# February WASDE Shows Slightly Bearish Demand Changes for US, Only Minor Revisions in Brazil Crops

> The February WASDE showed slightly bearish U.S. demand changes, with a 10 million bushel cut in food, seed and industrial corn use lifting ending stocks. The March corn futures contract hit a new contract low after the report, while USDA kept Brazil's production estimate far above other analysts' figures.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/31631-february-wasde-shows-slightly-bearish-demand-changes-for-us-only-minor
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower domestic corn use and a new contract low reinforce weak corn prices, and USDA's high Brazil estimate suggests South American supply will keep pressure on the market.

## Read by commodity

- SOY: neutral
- CORN: bearish ▼
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-01-15 | [Bearish Surprises for Corn and Soybeans in Latest WASDE Report](https://feedsoft.ai/events/32062-bearish-surprises-for-corn-and-soybeans-in-latest-wasde-report.md) | +0.8% | -4.7% |
| CORN | 2019-11-17 | [November WASDE report shows bearish for corn; neutral for soybeans - Messenger News](https://feedsoft.ai/events/56022-november-wasde-report-shows-bearish-for-corn-neutral-for-soybeans-messenger-news.md) | +0.0% | +2.0% |
| CORN | 2017-03-10 | [Crops lower in wake of bearish USDA report](https://feedsoft.ai/events/8404-crops-lower-in-wake-of-bearish-usda-report.md) | +1.9% | +0.8% |
| CORN | 2025-03-28 | [Few changes for corn, soybeans in WASDE - High Plains Journal](https://feedsoft.ai/events/25515-few-changes-for-corn-soybeans-in-wasde-high-plains-journal.md) | +0.5% | +5.5% |
| CORN | 2021-05-12 | [New-Crop December Corn Falters on Bearish WASDE; Soybeans Maintain Strong Gains](https://feedsoft.ai/events/7468-new-crop-december-corn-falters-on-bearish-wasde-soybeans-maintain-strong-gains.md) | -7.8% | -3.3% |
| SOY | 2023-04-11 | [USDA April Crop Production, WASDE Reports Feature Only a Few Changes](https://feedsoft.ai/events/36340-usda-april-crop-production-wasde-reports-feature-only-a-few-changes.md) | +2.0% | -1.2% |
| SOY | 2019-11-17 | [November WASDE report shows bearish for corn; neutral for soybeans - Messenger News](https://feedsoft.ai/events/56022-november-wasde-report-shows-bearish-for-corn-neutral-for-soybeans-messenger-news.md) | -2.3% | +0.4% |
| SOY | 2026-04-09 | [USDA WASDE Crop Report - Minimal Changes \| Apr 9.26 - ADM Investor Services](https://feedsoft.ai/events/19664-usda-wasde-crop-report-minimal-changes-apr-9-26-adm-investor-services.md) | +0.4% | +1.5% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2024/02/08/february-wasde-shows-slightly-demand

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