# Soybeans jump higher on bullish WASDE data

> Soybean prices rose more than 3% in the hour after USDA's October WASDE, with corn and wheat following higher. USDA cut corn production to 15.064 billion bushels on a lower yield and trimmed exports and feed use. Corn ending stocks fell 110 million bushels and the season-average farm price rose to $4.95 per bushel.

- Date: 2023-10-12 · published 2023-10-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/33589-soybeans-jump-higher-on-bullish-wasde-data
- 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 corn and soybean supplies and a higher season-average price point to firmer feed grain costs for buyers. Wheat's rally was modest and tracked the broader move.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-10-13 | [Soybeans Soar on USDA WASDE Bullish Yield and Stocks Data, Grains Follow](https://feedsoft.ai/events/33585-soybeans-soar-on-usda-wasde-bullish-yield-and-stocks-data-grains-follow.md) | +2.0% | +2.9% |
| SOY | 2018-06-12 | [Futures rally on bullish corn, soybean data](https://feedsoft.ai/events/64480-futures-rally-on-bullish-corn-soybean-data.md) | -4.7% | -10.6% |
| SOY | 2018-05-10 | [WASDE delivers bullish corn, soybean news](https://feedsoft.ai/events/64967-wasde-delivers-bullish-corn-soybean-news.md) | -0.7% | -3.3% |
| SOY | 2026-09-15 | [Grains-soybeans, soymeal rise on US crush data; wheat turns higher - DBA News \| Rallies](https://feedsoft.ai/events/17556-grains-soybeans-soymeal-rise-on-us-crush-data-wheat-turns-higher-dba-news.md) | +3.3% | +0.2% |
| CORN | 2023-10-13 | [Soybeans Soar on USDA WASDE Bullish Yield and Stocks Data, Grains Follow](https://feedsoft.ai/events/33585-soybeans-soar-on-usda-wasde-bullish-yield-and-stocks-data-grains-follow.md) | +0.2% | -3.5% |
| CORN | 2018-06-12 | [Futures rally on bullish corn, soybean data](https://feedsoft.ai/events/64480-futures-rally-on-bullish-corn-soybean-data.md) | -2.1% | -4.6% |
| CORN | 2018-05-10 | [WASDE delivers bullish corn, soybean news](https://feedsoft.ai/events/64967-wasde-delivers-bullish-corn-soybean-news.md) | +0.5% | -2.5% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/soybeans-jump-higher-on-bullish-wasde-data

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