# WASDE update: Tighter US grain balances | articles | ING THINK

> ING analysis of the January WASDE says U.S. corn, soybean and wheat ending stocks all came in below expectations. USDA cut corn production by about 200 million bushels on lower acreage, while global balances were less supportive with stocks in line or above expectations.

- Date: 2023-01-13 · published 2023-01-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37729-wasde-update-tighter-us-grain-balances-articles-ing-think
- 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

Tighter U.S. balances support domestic grain prices, while looser global stocks limit the upside. The net effect is a firmer U.S. price outlook.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-04-12 | [WASDE update: Tightening corn balance \| articles \| ING THINK](https://feedsoft.ai/events/47548-wasde-update-tightening-corn-balance-articles-ing-think.md) | +0.9% | +25.0% |
| CORN | 2022-02-10 | [WASDE update: Soybeans rally on tighter balance \| articles \| ING THINK](https://feedsoft.ai/events/42677-wasde-update-soybeans-rally-on-tighter-balance-articles-ing-think.md) | -0.0% | +11.8% |
| CORN | 2022-10-13 | [WASDE update: US supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/39103-wasde-update-us-supply-cuts-articles-ing-think.md) | +1.6% | -1.2% |
| CORN | 2022-08-15 | [WASDE update: Further tightening for corn expected \| articles \| ING THINK](https://feedsoft.ai/events/6533-wasde-update-further-tightening-for-corn-expected-articles-ing-think.md) | -1.1% | -0.5% |
| CORN | 2021-08-13 | [WASDE update: Wheat market continues to tighten \| articles \| ING THINK](https://feedsoft.ai/events/45502-wasde-update-wheat-market-continues-to-tighten-articles-ing-think.md) | -1.7% | -9.0% |
| SOY | 2022-02-10 | [WASDE update: Soybeans rally on tighter balance \| articles \| ING THINK](https://feedsoft.ai/events/42677-wasde-update-soybeans-rally-on-tighter-balance-articles-ing-think.md) | -0.5% | +6.6% |
| SOY | 2022-10-13 | [WASDE update: US supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/39103-wasde-update-us-supply-cuts-articles-ing-think.md) | -1.7% | +4.6% |
| SOY | 2023-09-13 | [WASDE update: Tighter wheat and looser corn market \| articles \| ING THINK](https://feedsoft.ai/events/34042-wasde-update-tighter-wheat-and-looser-corn-market-articles-ing-think.md) | -1.2% | -4.5% |

## Sources

- think.ing.com: https://think.ing.com/articles/wasde-update-tighter-us-grain-balances/

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