# Bearish WASDE Report Impacting Corn, Soybeans, and Wheat

> ING reported that the July WASDE was largely bearish for corn and soybeans. USDA raised US corn production by 55 million bushels to 15.32 billion on higher planted area, and cut soybean output by 210 million bushels to 4.3 billion. Global corn and soybean balance sheets were also adjusted.

- Date: 2023-07-13 · published 2023-07-13T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/34985-bearish-wasde-report-impacting-corn-soybeans-and-wheat
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher US corn output and stocks above expectations weigh on feed grain prices, while the soybean meal outlook is shaped by the balance between lower output and higher carryout.

## Read by commodity

- SBM: neutral
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-01-15 | [Bearish Surprises for Corn and Soybeans in Latest WASDE Report](https://feedsoft.ai/events/32062-bearish-surprises-for-corn-and-soybeans-in-latest-wasde-report.md) | +0.8% | -4.7% |
| CORN | 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) | +1.8% | -0.5% |
| 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% |
| CORN | 2022-10-12 | [Turner's Take Ag Markets \| WASDE Bullish Soybeans and Bearish Corn/Wheat](https://feedsoft.ai/events/39095-turner-s-take-ag-markets-wasde-bullish-soybeans-and-bearish-corn-wheat.md) | +1.9% | -1.0% |
| CORN | 2021-09-10 | [Corn, Soybean, Wheat Futures Rise Friday Despite Bearish USDA WASDE Report](https://feedsoft.ai/events/45041-corn-soybean-wheat-futures-rise-friday-despite-bearish-usda-wasde-report.md) | +1.1% | -1.9% |
| SOY | 2024-01-15 | [Bearish Surprises for Corn and Soybeans in Latest WASDE Report](https://feedsoft.ai/events/32062-bearish-surprises-for-corn-and-soybeans-in-latest-wasde-report.md) | +1.5% | -1.1% |
| SOY | 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) | -1.9% | -6.0% |
| SOY | 2020-08-13 | [WASDE steady on wheat, bearish on corn, soybeans - Grain Central](https://feedsoft.ai/events/51547-wasde-steady-on-wheat-bearish-on-corn-soybeans-grain-central.md) | +2.5% | +10.6% |

## Sources

- fxmag.com: https://fxmag.com/commodities/bearish-wasde-report-impacting-corn-soybeans-and-wheat

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