# USDA: Low corn prices spur greater feed use | Feed Strategy

> USDA's April WASDE raised 2023-24 corn use for feed and ethanol by 50 million bushels, reflecting cheaper feed prices that encourage animals to be fed to higher weights. USDA cut soybean use by 25 million bushels, with soybean demand lagging.

- Date: 2024-04-17 · published 2024-04-17T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/30829-usda-low-corn-prices-spur-greater-feed-use-feed-strategy
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Stronger corn feed and ethanol use supports corn demand and can absorb surplus stocks, though analysts say it is unlikely to lift prices without weather or geopolitical shocks. The soybean demand cut adds pressure on soy prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-08-17 | [Corn prices rise again after USDA cuts crop estimates \| Feed Strategy](https://feedsoft.ai/events/45597-corn-prices-rise-again-after-usda-cuts-crop-estimates-feed-strategy.md) | -2.8% | -11.4% |
| CORN | 2018-02-08 | [USDA Lowers Corn Stocks, Prices Rise](https://feedsoft.ai/events/10009-usda-lowers-corn-stocks-prices-rise.md) | +0.2% | +2.3% |
| CORN | 2022-11-01 | [Feed ingredient availability low, keeping prices high \| Feed Strategy](https://feedsoft.ai/events/38736-feed-ingredient-availability-low-keeping-prices-high-feed-strategy.md) | +0.0% | -2.8% |
| CORN | 2021-03-01 | [North American producers seeing higher meat, grain prices \| Feed Strategy](https://feedsoft.ai/events/12937-north-american-producers-seeing-higher-meat-grain-prices-feed-strategy.md) | +0.6% | +5.4% |
| CORN | 2022-04-22 | [North America faces high feed prices, tight grain supply \| Feed Strategy](https://feedsoft.ai/events/41977-north-america-faces-high-feed-prices-tight-grain-supply-feed-strategy.md) | -0.2% | -2.1% |
| SOY | 2018-02-08 | [USDA Lowers Corn Stocks, Prices Rise](https://feedsoft.ai/events/10009-usda-lowers-corn-stocks-prices-rise.md) | +3.5% | +7.2% |
| SOY | 2026-10-28 | [Corn Soybean Prices Dip as US Harvest Exceeds Expectations \| Feed Strategy](https://feedsoft.ai/events/67-corn-soybean-prices-dip-as-us-harvest-exceeds-expectations-feed-strategy.md) | -1.6% | — |
| SOY | 2025-03-06 | [Lower feed prices could bolster 2025 margins](https://feedsoft.ai/events/25678-lower-feed-prices-could-bolster-2025-margins.md) | -1.0% | +3.2% |

## Sources

- feedstrategy.com: https://www.feedstrategy.com/business-markets/commodities/article/15668775/usda-low-corn-prices-spur-greater-feed-use

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