# USDA report triggers corn and soybean price drop, wheat remai ...

> Corn futures for December 2023 dropped more than 2% and November soybeans fell over 1% after the September WASDE showed a larger-than-expected US corn crop and 94.9 million planted acres. Wheat prices held relatively steady despite lower world inventory expectations.

- Date: 2023-09-15 · published 2023-09-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/34044-usda-report-triggers-corn-and-soybean-price-drop-wheat-remai
- 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 larger US corn supply estimate than the market expected weighs on feed grain prices, while soybean yield cuts in line with forecasts provide limited support.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-08-13 | [USDA crop report: Corn yields soar, soybean prices rise](https://feedsoft.ai/events/23278-usda-crop-report-corn-yields-soar-soybean-prices-rise.md) | +1.4% | +6.1% |
| CORN | 2017-01-12 | [Corn and Soybean Production Up in 2016, USDA Reports](https://feedsoft.ai/events/72836-corn-and-soybean-production-up-in-2016-usda-reports.md) | +0.1% | +1.9% |
| CORN | 2025-01-22 | [2025 Corn, Soybean, and Wheat Outlook \| CAES Field Report](https://feedsoft.ai/events/26478-2025-corn-soybean-and-wheat-outlook-caes-field-report.md) | -0.8% | +3.8% |
| CORN | 2020-04-13 | [USDA report: Larger U.S. corn, soy, wheat stocks](https://feedsoft.ai/events/53602-usda-report-larger-u-s-corn-soy-wheat-stocks.md) | -5.4% | -6.1% |
| CORN | 2023-07-12 | [USDA Report Bearish News for Corn and Soybeans](https://feedsoft.ai/events/34982-usda-report-bearish-news-for-corn-and-soybeans.md) | -5.7% | -8.7% |
| SOY | 2017-01-12 | [Corn and Soybean Production Up in 2016, USDA Reports](https://feedsoft.ai/events/72836-corn-and-soybean-production-up-in-2016-usda-reports.md) | +6.7% | +4.7% |
| SOY | 2024-09-13 | [WASDE Report Spurs Wheat & Corn Price Rally, Soybeans Lag \| tastylive](https://feedsoft.ai/events/28257-wasde-report-spurs-wheat-and-corn-price-rally-soybeans-lag-tastylive.md) | +2.2% | +2.3% |
| SOY | 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) | +1.5% | +7.7% |

## Sources

- millingmea.com: https://millingmea.com/usda-report-triggers-corn-and-soybean-price-drop-wheat-remains-resilient/

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