# Wheat, Soybean Carryover Larger Than Expected | Red River Farm Network

> StoneX's Arlan Suderman said the US winter wheat crop was much larger than USDA expected in the July WASDE, which has not fully accounted for hard red winter abandonment in the Plains. Soybean ending stocks were pushed to 300 million bushels through an accounting adjustment. Commodity prices fell across the board after the release.

- Date: 2023-07-12 · published 2023-07-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/34983-wheat-soybean-carryover-larger-than-expected-red-river-farm-network
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A larger hard red winter wheat crop and soybean carryover add supply that could weigh on wheat and soybean complex prices, though the abandonment issue may be revised in September.

## Read by commodity

- SOY: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2022-06-10 | [USDA projects larger than expected U.S. winter wheat crop, unexpectedly boosts 2022-23 corn ending stocks - Pro Farmer](https://feedsoft.ai/events/40894-usda-projects-larger-than-expected-u-s-winter-wheat-crop-unexpectedly-boosts.md) | -0.5% | -20.2% |
| KWHEAT | 2019-04-09 | [WASDE Bearish as Expected on Corn and Wheat, Neutral on Soybeans](https://feedsoft.ai/events/59543-wasde-bearish-as-expected-on-corn-and-wheat-neutral-on-soybeans.md) | -1.0% | -8.5% |
| KWHEAT | 2017-12-13 | [U.S.D.A. bumps wheat, soybean carryover \| Food Business News \| December 13, 2017 13:28](https://feedsoft.ai/events/67420-u-s-d-a-bumps-wheat-soybean-carryover-food-business-news-december-13-2017-13-28.md) | +6.6% | +11.7% |
| KWHEAT | 2017-12-13 | [USDA bumps U.S. wheat, soybean carryover \| World-grain.com \| December 13, 2017 13:57 \| World Grain](https://feedsoft.ai/events/67418-usda-bumps-u-s-wheat-soybean-carryover-world-grain-com-december-13-2017-13-57.md) | +6.6% | +11.7% |
| KWHEAT | 2025-09-11 | [Record EU soft wheat harvest expected this year - AgCanada](https://feedsoft.ai/events/22801-record-eu-soft-wheat-harvest-expected-this-year-agcanada.md) | +6.3% | +1.5% |
| SOY | 2021-09-30 | [USDA Estimate for Soybean Stocks Higher Than Expected \| Red River Farm Network](https://feedsoft.ai/events/45039-usda-estimate-for-soybean-stocks-higher-than-expected-red-river-farm-network.md) | -3.3% | -3.5% |
| SOY | 2024-08-13 | [S/D Estimates Released \| Red River Farm Network](https://feedsoft.ai/events/28714-s-d-estimates-released-red-river-farm-network.md) | -5.5% | -3.4% |
| SOY | 2026-08-12 | [WASDE Report Released \| Red River Farm Network](https://feedsoft.ai/events/17856-wasde-report-released-red-river-farm-network.md) | +4.6% | +12.9% |

## Sources

- rrfn.com: https://www.rrfn.com/2023/07/12/wasde-report-held-some-surprise-for-wheat-and-soybeans/

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