# USDA: Corn and soy production will outpace demand in coming year

> USDA's May WASDE pegged 2022/23 US corn ending stocks at 1.417 billion bushels and 2023/24 at 2.222 billion, both above trade estimates. Soybean ending stocks were 335 million bushels for 2023/24, well above expectations, while US wheat ending stocks were 556 million bushels, below trade forecasts. World stock estimates were also revised.

- Date: 2023-05-12 · published 2023-05-12T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/35887-usda-corn-and-soy-production-will-outpace-demand-in-coming-year
- 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

Higher-than-expected corn and soybean stocks point to surplus supplies and lower prices, while the smaller wheat carryout is supportive for wheat.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2023-05-14 | 1 | -3.9% | -5.7 | WASDE ending stocks for 2022/23 and 2023/24 came in above trade estimates, a bearish surprise for corn. |
| CORN | 2023-05-18 | 5 | -8.8% | -3.2 | USDA stocks for 2022/23 and 2023/24 came in above trade estimates, a bearish surprise adding to supply pressure. |
| SOY | 2023-05-18 | 5 | -8.9% | -2.8 | Reports soybean ending stocks well above trade expectations, confirming the bearish surprise in the WASDE. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2025-09-12 | [USDA Ups Corn and Soybean Production Estimates](https://feedsoft.ai/events/22795-usda-ups-corn-and-soybean-production-estimates.md) | +5.1% | +3.6% |
| CORN | 2025-02-28 | [US soybeans production to fall in next marketing year: USDA](https://feedsoft.ai/events/26096-us-soybeans-production-to-fall-in-next-marketing-year-usda.md) | -2.4% | +0.5% |
| CORN | 2025-11-14 | [USDA Lowers Corn and Soybean Production Estimates](https://feedsoft.ai/events/21885-usda-lowers-corn-and-soybean-production-estimates.md) | -0.8% | -0.3% |
| CORN | 2022-11-09 | [November USDA Report Increases Corn and Soybean Production](https://feedsoft.ai/events/38642-november-usda-report-increases-corn-and-soybean-production.md) | +1.6% | -5.7% |
| 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 | 2017-01-01 | [Corn and Soybean Production Outlook in 2017-18](https://feedsoft.ai/events/72931-corn-and-soybean-production-outlook-in-2017-18.md) | 0.0% | +2.8% |
| SOY | 2025-09-12 | [USDA Ups Corn and Soybean Production Estimates](https://feedsoft.ai/events/22795-usda-ups-corn-and-soybean-production-estimates.md) | +2.2% | +0.7% |

## Sources

- agriculture.com: https://www.agriculture.com/news/business/usda-forecasts-more-domestic-supply-of-corn-and-soy?did=9122025-20230512&lctg=3c0545dd1a819ca74fc0f935afb4da17b0035420

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