# Wheat bears follow June WASDE

> USDA surprised wheat markets in its June WASDE by projecting larger supplies for the coming year despite U.S. crop damage. Traders had expected a smaller hard red winter crop after drought drove abandonment to its highest rate since 1917, but recent Plains rains improved late-season prospects. USDA also cut Argentina's corn production potential below trade estimates and raised Brazil's.

- Date: 2023-06-09 · published 2023-06-09T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35448-wheat-bears-follow-june-wasde
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Larger expected wheat supplies and better Plains prospects are bearish for wheat, reducing the cost of wheat-based feed. Argentina's smaller corn crop is a modest offset for corn.

## Read by commodity

- CORN: neutral
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-11-18 | [WASDE out of hibernation and bearish for wheat](https://feedsoft.ai/events/21926-wasde-out-of-hibernation-and-bearish-for-wheat.md) | -1.7% | -1.3% |
| WHEAT | 2024-07-12 | [Wheat Gets Hit Hard Following July WASDE, Sharp Production Gains](https://feedsoft.ai/events/29206-wheat-gets-hit-hard-following-july-wasde-sharp-production-gains.md) | -3.9% | -2.9% |
| WHEAT | 2022-07-12 | [Markets continue lower following July WASDE](https://feedsoft.ai/events/40428-markets-continue-lower-following-july-wasde.md) | +7.2% | +7.0% |
| WHEAT | 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) | +0.7% | +11.5% |
| WHEAT | 2022-11-14 | [WASDE lifts Aus wheat, barley forecasts - Grain Central](https://feedsoft.ai/events/38637-wasde-lifts-aus-wheat-barley-forecasts-grain-central.md) | +0.8% | +0.0% |
| KWHEAT | 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) | +4.7% | +14.0% |
| 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 | 2025-06-30 | [Wheat Market Outlook – June 30, 2025 \| Sask Wheat](https://feedsoft.ai/events/24270-wheat-market-outlook-june-30-2025-sask-wheat.md) | -1.5% | +1.9% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/wheat-bears-follow-june-wasde

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