# USDA trims forecast for soybean, wheat supplies | Agri-Pulse Communications, Inc.

> USDA lowered its 2023-24 global soybean ending stocks slightly to 114.21 million metric tons and cut global wheat stocks to 258.2 million tons, the lowest in eight years. U.S. corn ending stocks were lowered to 54.12 million tons, while global corn stocks were raised slightly. USDA raised the average farm wheat price by 10 cents to $7.30 a bushel.

- Date: 2023-12-08 · published 2023-12-08T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/32633-usda-trims-forecast-for-soybean-wheat-supplies-agri-pulse-communications-inc
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Eight-year-low global wheat stocks support wheat prices, and lower U.S. corn stocks add modest support to corn. Global soybean stocks were slightly tighter than before.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-05-10 | [Winter wheat takes a hit in USDA forecast \| 2017-05-10 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/71055-winter-wheat-takes-a-hit-in-usda-forecast-2017-05-10-agri-pulse-agri-pulse.md) | -2.4% | +0.5% |
| WHEAT | 2021-10-12 | [USDA officials increase soybean, corn yield estimates \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/44382-usda-officials-increase-soybean-corn-yield-estimates-agri-pulse-communications.md) | +0.7% | +8.0% |
| WHEAT | 2026-04-09 | [USDA raises price estimates for several commodities \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/19801-usda-raises-price-estimates-for-several-commodities-agri-pulse-communications.md) | +3.1% | +0.1% |
| WHEAT | 2022-05-12 | [USDA warns on corn, winter wheat crops due to weather \| 2022-05-12 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/13363-usda-warns-on-corn-winter-wheat-crops-due-to-weather-2022-05-12-agri-pulse.md) | +5.9% | +0.7% |
| WHEAT | 2024-06-12 | [WASDE: Soybean ending stock expectations increased, while wheat lower and corn steady \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/29691-wasde-soybean-ending-stock-expectations-increased-while-wheat-lower-and-corn.md) | -2.1% | -3.3% |
| CORN | 2019-09-12 | [USDA lowers corn, soybean yield estimates \| 2019-09-12  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/10852-usda-lowers-corn-soybean-yield-estimates-2019-09-12-agri-pulse-communications.md) | +4.8% | +9.0% |
| CORN | 2018-03-29 | [Farmers plan to cut corn, soybean acreage, USDA says \| 2018-03-29 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/66030-farmers-plan-to-cut-corn-soybean-acreage-usda-says-2018-03-29-agri-pulse-agri.md) | +4.8% | +4.9% |
| CORN | 2022-03-09 | [USDA forecast larger wheat stocks despite war, but warns of uncertainty \| 2022-03-09 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/42242-usda-forecast-larger-wheat-stocks-despite-war-but-warns-of-uncertainty-2022-03.md) | +3.3% | +10.3% |

## Sources

- agri-pulse.com: https://www.agri-pulse.com/articles/20384-usda-trims-forecast-for-soybean-wheat-supplies

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