# USDA Ending Stocks Reveal Record Projections for Corn and Soybeans - ProAg

> ProAg reports that the May WASDE projected record US corn and soybean production for 2023, with corn at about 15.3 billion bushels, up more than 10% from April. Wheat ending stocks were 598 million bushels, unchanged from April and below trade expectations. Soybean markets fell sharply on expectations of lower exports in 2024.

- Date: 2023-05-15 · published 2023-05-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35890-usda-ending-stocks-reveal-record-projections-for-corn-and-soybeans-proag
- 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

Record corn and soybean output that exceeds expected demand weighs on futures, while wheat's below-expectation carryout gives some underlying support.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-06-12 | [USDA Increases Corn, Soybean, Wheat Ending Stocks - ProAg](https://feedsoft.ai/events/35444-usda-increases-corn-soybean-wheat-ending-stocks-proag.md) | +6.8% | -3.2% |
| CORN | 2019-05-10 | [Higher New Corn, Soybean Ending Stocks Projected](https://feedsoft.ai/events/59042-higher-new-corn-soybean-ending-stocks-projected.md) | +5.8% | +12.3% |
| CORN | 2023-03-08 | [USDA Crop Production Report Out Today: Lower Soybean Ending Stocks and Higher Corn - Oklahoma Farm Report](https://feedsoft.ai/events/36821-usda-crop-production-report-out-today-lower-soybean-ending-stocks-and-higher.md) | -1.6% | -0.6% |
| CORN | 2023-03-08 | [USDA Trims Soybean Ending Stocks, Bumps Up Corn](https://feedsoft.ai/events/36817-usda-trims-soybean-ending-stocks-bumps-up-corn.md) | -1.6% | -0.6% |
| CORN | 2023-04-11 | [PF Report Reaction: USDA unexpectedly keeps corn, soybean ending stocks unchanged - Pro Farmer](https://feedsoft.ai/events/36343-pf-report-reaction-usda-unexpectedly-keeps-corn-soybean-ending-stocks-unchanged.md) | +0.4% | +0.2% |
| SOY | 2023-06-12 | [USDA Increases Corn, Soybean, Wheat Ending Stocks - ProAg](https://feedsoft.ai/events/35444-usda-increases-corn-soybean-wheat-ending-stocks-proag.md) | +5.8% | +9.7% |
| SOY | 2019-05-10 | [Higher New Corn, Soybean Ending Stocks Projected](https://feedsoft.ai/events/59042-higher-new-corn-soybean-ending-stocks-projected.md) | +4.9% | +7.0% |
| SOY | 2016-11-09 | [USDA raises U.S. corn, soybean ending stocks - Brownfield Ag News](https://feedsoft.ai/events/73820-usda-raises-u-s-corn-soybean-ending-stocks-brownfield-ag-news.md) | -1.6% | +2.5% |

## Sources

- proag.com: https://www.proag.com/news/usda-ending-stocks-reveal-record-projections-for-corn-and-soybeans/

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