# USDA surprises trade with latest report | The Western Producer

> The November WASDE surprised the trade with a US corn yield of 174.9 bushels per acre, up from 173 in October. USDA raised 2023-24 ending stocks to 2.156 billion bushels, the highest in seven years, and cut its average farm price forecast to $4.85 per bushel.

- Date: 2023-11-09 · published 2023-11-09T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/33115-usda-surprises-trade-with-latest-report-the-western-producer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The higher yield and seven-year-high stocks point to ample corn supplies and lower farm prices, which favors cheaper feed grain for buyers. Brazil's unchanged production estimate despite weather stress leaves some upside risk that could limit the downside.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-01-12 | [January WASDE report very bearish \| The Western Producer](https://feedsoft.ai/events/20995-january-wasde-report-very-bearish-the-western-producer.md) | -2.8% | -1.7% |
| CORN | 2018-12-14 | [USDA reports provide few surprises](https://feedsoft.ai/events/7515-usda-reports-provide-few-surprises.md) | +0.5% | +0.1% |
| CORN | 2026-04-10 | [CBOT review: Soybeans rise with soymeal \| The Western Producer](https://feedsoft.ai/events/11662-cbot-review-soybeans-rise-with-soymeal-the-western-producer.md) | +1.0% | +2.2% |
| CORN | 2019-01-01 | [USDA Reports Provide Surprises for Corn](https://feedsoft.ai/events/61054-usda-reports-provide-surprises-for-corn.md) | +1.4% | +1.8% |
| CORN | 2022-12-09 | [December USDA WASDE Report Holds Little Excitement for Traders, With Few Surprises](https://feedsoft.ai/events/38183-december-usda-wasde-report-holds-little-excitement-for-traders-with-few.md) | +1.9% | +2.9% |
| SOY | 2019-05-30 | [China trade report tells troubled tale \| The Western Producer](https://feedsoft.ai/events/59067-china-trade-report-tells-troubled-tale-the-western-producer.md) | -0.3% | +2.6% |
| SOY | 2026-01-12 | [January WASDE report very bearish \| The Western Producer](https://feedsoft.ai/events/20995-january-wasde-report-very-bearish-the-western-producer.md) | +0.9% | +5.9% |
| SOY | 2017-06-12 | [USDA Releases Latest WASDE Report](https://feedsoft.ai/events/70425-usda-releases-latest-wasde-report.md) | -0.3% | +8.4% |

## Sources

- producer.com: https://www.producer.com/news/usda-surprises-trade-with-latest-report/

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