# Soybeans Soar on USDA WASDE Bullish Yield and Stocks Data, Grains Follow

> Soybean futures jumped after USDA's October WASDE showed a larger-than-expected cut in soybean yield and production, lower ending stocks, and a bullish world soybean stocks figure. Corn and wheat followed higher later in the session. Corn was supported by a yield cut partly offset by more harvested acres.

- Date: 2023-10-13 · published 2023-10-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/33585-soybeans-soar-on-usda-wasde-bullish-yield-and-stocks-data-grains-follow
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A tighter US and world soybean balance lifts soybean and soymeal prices, and that sympathy move pulled corn higher. Feed costs for buyers rise accordingly.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-10-12 | [Soybeans jump higher on bullish WASDE data](https://feedsoft.ai/events/33589-soybeans-jump-higher-on-bullish-wasde-data.md) | +4.7% | +7.7% |
| SOY | 2023-01-12 | [Corn and Soy Complex Surge on Bullish USDA Stocks and Production Data](https://feedsoft.ai/events/37730-corn-and-soy-complex-surge-on-bullish-usda-stocks-and-production-data.md) | -0.0% | +0.3% |
| SOY | 2024-11-08 | [USDA Surprisingly Lowers Corn and Soybean Yield and Ending Stocks in WASDE - AgWeb](https://feedsoft.ai/events/13135-usda-surprisingly-lowers-corn-and-soybean-yield-and-ending-stocks-in-wasde-agweb.md) | -2.9% | -2.1% |
| SOY | 2017-10-12 | [Soybeans surge on bullish WASDE updates \| Feedstuffs](https://feedsoft.ai/events/68417-soybeans-surge-on-bullish-wasde-updates-feedstuffs.md) | +2.0% | +2.4% |
| SOY | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +0.8% | +2.0% |
| CORN | 2023-10-12 | [Soybeans jump higher on bullish WASDE data](https://feedsoft.ai/events/33589-soybeans-jump-higher-on-bullish-wasde-data.md) | -0.4% | -1.5% |
| CORN | 2021-01-13 | [USDA Lowers Soybean Stocks and Corn Yield](https://feedsoft.ai/events/49088-usda-lowers-soybean-stocks-and-corn-yield.md) | +2.0% | +7.5% |
| CORN | 2023-01-12 | [Corn and Soy Complex Surge on Bullish USDA Stocks and Production Data](https://feedsoft.ai/events/37730-corn-and-soy-complex-surge-on-bullish-usda-stocks-and-production-data.md) | +2.2% | +2.2% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/10/12/soybeans-soar-usda-wasde-bullish

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