# What Was So Bullish About the October USDA Reports? - AgWeb

> The October WASDE and Crop Production reports cut US soybean yield and production while ending stocks were unchanged at 220 million bushels. Corn yield and production were reduced, with corn ending stocks lower on smaller carry-in. Wheat was judged bearish, and world soybean ending stocks were cut by 3.6 million tonnes.

- Date: 2023-10-13 · published 2023-10-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/33586-what-was-so-bullish-about-the-october-usda-reports-agweb
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower soybean and corn balance sheets support feed grain prices, while the bearish wheat read offers cheaper alternatives to corn in feed rations. Traders expect further yield cuts ahead.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| SOY | 2023-10-12 | [CBOT weekly outlook: Markets react bullishly to USDA report - AgCanada](https://feedsoft.ai/events/33588-cbot-weekly-outlook-markets-react-bullishly-to-usda-report-agcanada.md) | +4.7% | +7.7% |
| SOY | 2022-09-12 | [Soybeans and Meal Explode on Bullish Numbers From Sept. 12 USDA Reports](https://feedsoft.ai/events/39550-soybeans-and-meal-explode-on-bullish-numbers-from-sept-12-usda-reports.md) | -2.7% | -8.2% |
| SOY | 2019-09-13 | [AgroPages-USDA, WASDE Reports Rallies The Soybean Market 29¢.-Agricultural news](https://feedsoft.ai/events/10851-agropages-usda-wasde-reports-rallies-the-soybean-market-29-agricultural-news.md) | +1.1% | +4.6% |
| SOY | 2016-12-12 | [USDA WASDE Report at a Glance](https://feedsoft.ai/events/73428-usda-wasde-report-at-a-glance.md) | -0.1% | -3.1% |
| CORN | 2024-05-10 | [What You Need to Know About USDA's May WASDE Report - AgWeb](https://feedsoft.ai/events/13182-what-you-need-to-know-about-usda-s-may-wasde-report-agweb.md) | +2.4% | +2.7% |
| CORN | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +5.8% | +11.6% |
| CORN | 2021-10-18 | [Wheat prices rose sharply after the release of the October USDA report](https://feedsoft.ai/events/44584-wheat-prices-rose-sharply-after-the-release-of-the-october-usda-report.md) | +1.5% | +13.0% |

## Sources

- agweb.com: https://www.agweb.com/markets/usda-reports/what-was-so-bullish-about-october-usda-reports

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