# US cuts forecast for corn stocks as more grain goes toward ethanol, feed

> USDA's June WASDE cut its projection for US corn ending stocks for 2023/24 to 2.122 billion bushels from 2.172 billion, as ethanol use rose to 5.4 billion bushels and feed use to 5.7 billion. The cut was smaller than the 2.102 billion analysts expected. Corn prices still traded lower after the report because global supplies were seen as plentiful.

- Date: 2024-06-18 · published 2024-06-18T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/29813-us-cuts-forecast-for-corn-stocks-as-more-grain-goes-toward-ethanol-feed
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher domestic use reduces old-crop stocks, which modestly supports corn prices, but ample global supply limits the upside. Feed buyers face a tighter US old-crop balance without a major supply shock.

## Read by commodity

- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-12-10 | [USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report \| Feed & Grain](https://feedsoft.ai/events/26902-usda-forecasts-lower-us-wheat-stocks-raises-corn-exports-in-latest-wasde-report.md) | +1.6% | +2.9% |
| CORN | 2026-08-12 | [Corn Futures Jump as USDA Cuts US Yield More Than Forecast - Bloomberg](https://feedsoft.ai/events/17932-corn-futures-jump-as-usda-cuts-us-yield-more-than-forecast-bloomberg.md) | +3.5% | +11.8% |
| CORN | 2024-04-16 | [USDA revises corn and sorghum forecasts for 2023/24 \| Feed & Grain](https://feedsoft.ai/events/30811-usda-revises-corn-and-sorghum-forecasts-for-2023-24-feed-and-grain.md) | -0.3% | +3.3% |
| CORN | 2021-06-11 | [WASDE Slashes Corn Ending Stocks \| Feed & Grain](https://feedsoft.ai/events/46506-wasde-slashes-corn-ending-stocks-feed-and-grain.md) | -6.1% | -4.6% |
| CORN | 2025-01-13 | [Cuts to US and global corn and soy inventory forecasts](https://feedsoft.ai/events/26455-cuts-to-us-and-global-corn-and-soy-inventory-forecasts.md) | +1.7% | +1.8% |

## Sources

- energynews.oedigital.com: https://energynews.oedigital.com/fossil-fuels/2024/06/17/us-cuts-forecast-for-corn-stocks-as-more-grain-goes-toward-ethanol-feed

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.