# WASDE Reduces Corn and Soy Production More Than Expected

> USDA's October WASDE cut 2023 US corn production to 15.064 billion bushels at a 173 bpa yield, and soybean production to 4.104 billion bushels at 49.6 bpa. Both came in below trade expectations, and US corn and soybean ending stocks were also below estimates. Wheat ending stocks were reported at 670 million bushels, above expectations.

- Date: 2023-10-12 · published 2023-10-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/33584-wasde-reduces-corn-and-soy-production-more-than-expected
- 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

A smaller-than-expected US corn and soybean crop with tighter carryout supports prices for feed grains and soymeal. The wheat stocks surprise is a weaker signal for that market.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-04-11 | [WASDE Report Cuts Corn Ending Stocks More Than Expected - ProAg](https://feedsoft.ai/events/25066-wasde-report-cuts-corn-ending-stocks-more-than-expected-proag.md) | +1.7% | -4.0% |
| CORN | 2024-12-10 | [USDA Reduces U.S. Corn Ending Stocks More Than Expected](https://feedsoft.ai/events/26900-usda-reduces-u-s-corn-ending-stocks-more-than-expected.md) | +1.6% | +2.9% |
| CORN | 2024-11-11 | [November WASDE Surprises With Larger-Than-Expected Yield, Production Cuts](https://feedsoft.ai/events/27339-november-wasde-surprises-with-larger-than-expected-yield-production-cuts.md) | -1.2% | -0.1% |
| CORN | 2025-01-10 | [WASDE: Lower corn, soy production lifts prices significantly](https://feedsoft.ai/events/13118-wasde-lower-corn-soy-production-lifts-prices-significantly.md) | +3.2% | +5.6% |
| CORN | 2018-07-12 | [USDA Bumps Corn and Soybean Production, Drops Soybean Exports](https://feedsoft.ai/events/63997-usda-bumps-corn-and-soybean-production-drops-soybean-exports.md) | +2.9% | +12.0% |
| SOY | 2025-04-11 | [WASDE Report Cuts Corn Ending Stocks More Than Expected - ProAg](https://feedsoft.ai/events/25066-wasde-report-cuts-corn-ending-stocks-more-than-expected-proag.md) | +0.7% | +1.5% |
| SOY | 2025-08-12 | [USDA Ups 2025 Corn Production More Than Expected in Latest Crop Production Report](https://feedsoft.ai/events/23262-usda-ups-2025-corn-production-more-than-expected-in-latest-crop-production.md) | +3.2% | +2.2% |
| SOY | 2024-11-11 | [November WASDE Surprises With Larger-Than-Expected Yield, Production Cuts](https://feedsoft.ai/events/27339-november-wasde-surprises-with-larger-than-expected-yield-production-cuts.md) | -1.8% | -2.6% |

## Sources

- agriculture.com: https://www.agriculture.com/wasde-reduces-corn-and-soy-production-more-than-expected-8353038

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