# January WASDE: Higher U.S. Corn and Soy Yield and Stocks

> USDA's January WASDE raised U.S. 2023/24 corn ending stocks to 2.162 billion bushels and soybean ending stocks to 280 million bushels, both above trade expectations. USDA also cut Brazil's corn and soy production estimates while raising Argentina's soybean estimate.

- Date: 2024-01-12 · published 2024-01-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/32060-january-wasde-higher-u-s-corn-and-soy-yield-and-stocks
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher-than-expected U.S. and world stocks signal ample supply, which pressures corn and soybean prices and softens feed ingredient values.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-01-12 | [USDA Forecasts Record U.S. Corn Crop, Higher Ending Stocks in January WASDE Report - RFD](https://feedsoft.ai/events/20998-usda-forecasts-record-u-s-corn-crop-higher-ending-stocks-in-january-wasde.md) | +0.9% | +5.9% |
| SOY | 2023-11-10 | [Yield, Production and Stocks Increase Sends Corn and Soy Lower Following November WASDE](https://feedsoft.ai/events/33112-yield-production-and-stocks-increase-sends-corn-and-soy-lower-following.md) | +2.4% | -1.8% |
| SOY | 2024-01-15 | [WASDE update: Higher US corn and soybean supplies \| articles \| ING THINK](https://feedsoft.ai/events/11446-wasde-update-higher-us-corn-and-soybean-supplies-articles-ing-think.md) | +1.5% | -1.1% |
| SOY | 2018-09-12 | [USDA Pushes Corn, Soybean Yield Estimates Higher](https://feedsoft.ai/events/62988-usda-pushes-corn-soybean-yield-estimates-higher.md) | -0.8% | +5.2% |
| SOY | 2019-05-10 | [Higher New Corn, Soybean Ending Stocks Projected](https://feedsoft.ai/events/59042-higher-new-corn-soybean-ending-stocks-projected.md) | +4.9% | +7.0% |
| CORN | 2026-01-12 | [USDA Forecasts Record U.S. Corn Crop, Higher Ending Stocks in January WASDE Report - RFD](https://feedsoft.ai/events/20998-usda-forecasts-record-u-s-corn-crop-higher-ending-stocks-in-january-wasde.md) | -2.8% | -1.7% |
| CORN | 2026-06-18 | [Futures Fall After June WASDE Reveals Higher Corn Stocks](https://feedsoft.ai/events/18734-futures-fall-after-june-wasde-reveals-higher-corn-stocks.md) | -1.2% | +0.1% |
| CORN | 2022-12-12 | [U.S. corn stocks rise in December WASDE](https://feedsoft.ai/events/38187-u-s-corn-stocks-rise-in-december-wasde.md) | +1.6% | +2.6% |

## Sources

- agriculture.com: https://www.agriculture.com/january-wasde-higher-domestic-corn-and-soy-stocks-lower-south-american-production-8423909
- agrinews-pubs.com: https://www.agrinews-pubs.com/business/2024/01/16/usda-lowers-price-expectations/

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