# February USDA WASDE Report Neutral and Close to Expectations but Moved Markets Higher

> The February WASDE report was broadly in line with trader expectations, with the focus on Argentine crop losses from drought. USDA cut corn ethanol use and soybean crush by 25 and 15 million bushels, respectively, lifting ending stocks, and the average corn price was held at $6.70 per bushel.

- Date: 2023-02-08 · published 2023-02-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37261-february-usda-wasde-report-neutral-and-close-to-expectations-but-moved-markets
- 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

Lower domestic usage offsets the bullish effect of Argentina's losses, so markets moved only modestly higher. Feed buyers face steady US corn and meal supplies, with South American shortfalls the main upside risk.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-02-08 | [Key data in USDA's February 8 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/37260-key-data-in-usda-s-february-8-wasde-report-and-difference-from-market.md) | -0.3% | -4.2% |
| CORN | 2023-02-08 | [Neutral WASDE report maintains expectations – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/37265-neutral-wasde-report-maintains-expectations-ohio-ag-net-ohio-s-country-journal.md) | -0.3% | -4.2% |
| CORN | 2022-05-12 | [Key data in USDA's May 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/41349-key-data-in-usda-s-may-12-wasde-report-and-difference-from-market-expectations.md) | -0.3% | -0.9% |
| CORN | 2023-04-11 | [Key data in USDA's April 11 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/36341-key-data-in-usda-s-april-11-wasde-report-and-difference-from-market.md) | +0.4% | +0.2% |
| CORN | 2023-08-14 | [Key data in USDA's August 11 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/34511-key-data-in-usda-s-august-11-wasde-report-and-difference-from-market.md) | +0.3% | -1.6% |
| SOY | 2023-02-08 | [Key data in USDA's February 8 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/37260-key-data-in-usda-s-february-8-wasde-report-and-difference-from-market.md) | +1.5% | +0.8% |
| SOY | 2024-05-12 | [Key data in USDA's May 10 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/30218-key-data-in-usda-s-may-10-wasde-report-and-difference-from-market-expectations.md) | +1.9% | -1.4% |
| SOY | 2023-04-11 | [Key data in USDA's April 11 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/36341-key-data-in-usda-s-april-11-wasde-report-and-difference-from-market.md) | +2.0% | -1.2% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/02/08/february-usda-wasde-report-neutral

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