# WASDE update: Bearish release weighs on grains | articles | ING THINK

> The November WASDE was bearish, with US corn and soybean yields revised above market expectations. US wheat ending stocks also came in higher than expected, and the global corn stocks estimate was raised to 315 million tonnes.

- Date: 2023-11-10 · published 2023-11-10T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/33114-wasde-update-bearish-release-weighs-on-grains-articles-ing-think
- 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

Higher-than-expected US and global supplies reinforce a bearish outlook for corn and soybeans, which lowers feed input costs. Larger wheat stocks also limit support for wheat as a feed alternative.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-07-13 | [WASDE update: Release provides little support to markets \| articles \| ING THINK](https://feedsoft.ai/events/40430-wasde-update-release-provides-little-support-to-markets-articles-ing-think.md) | -11.6% | -12.4% |
| CORN | 2024-04-12 | [WASDE update: A largely bearish affair \| ING THINK](https://feedsoft.ai/events/30671-wasde-update-a-largely-bearish-affair-ing-think.md) | -0.2% | +1.2% |
| CORN | 2022-01-13 | [WASDE update: Poor South American weather weighs on supply prospects \| articles \| ING THINK](https://feedsoft.ai/events/43105-wasde-update-poor-south-american-weather-weighs-on-supply-prospects-articles.md) | -1.3% | +5.3% |
| CORN | 2021-07-13 | [WASDE update: Global wheat stocks tighten \| articles \| ING THINK](https://feedsoft.ai/events/46007-wasde-update-global-wheat-stocks-tighten-articles-ing-think.md) | -10.7% | -12.3% |
| CORN | 2023-03-09 | [WASDE update: Argentine crops downgraded \| articles \| ING THINK](https://feedsoft.ai/events/36822-wasde-update-argentine-crops-downgraded-articles-ing-think.md) | -1.0% | -0.0% |
| SOY | 2022-07-13 | [WASDE update: Release provides little support to markets \| articles \| ING THINK](https://feedsoft.ai/events/40430-wasde-update-release-provides-little-support-to-markets-articles-ing-think.md) | -7.3% | +6.3% |
| SOY | 2021-04-12 | [WASDE update: Tightening corn balance \| articles \| ING THINK](https://feedsoft.ai/events/47548-wasde-update-tightening-corn-balance-articles-ing-think.md) | +2.2% | +15.5% |
| SOY | 2024-04-12 | [WASDE update: A largely bearish affair \| ING THINK](https://feedsoft.ai/events/30671-wasde-update-a-largely-bearish-affair-ing-think.md) | -2.2% | +2.9% |

## Sources

- think.ing.com: https://think.ing.com/articles/wasde-update-bearish-release-weighs-on-grains101123/

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