# Turner's Take Ag Markets | Jan WASDE Bullish

> StoneX's Craig Turner called the January WASDE bullish versus expectations, with old-crop soybean and corn stocks tighter and wheat stocks at 567 million bushels. Winter wheat seedings rose by over 3.5 million acres, with HRW up 2.3 million acres.

- Date: 2023-01-12 · published 2023-01-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37733-turner-s-take-ag-markets-jan-wasde-bullish
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Tighter old-crop stocks support corn and soybean prices, but the larger winter wheat area adds bearish supply pressure for wheat if yields hold up. Double-cropping could lower soybean yield estimates.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-08-13 | [August WASDE Report Indicates Bullish Corn Markets - ProAg](https://feedsoft.ai/events/45501-august-wasde-report-indicates-bullish-corn-markets-proag.md) | -1.7% | -9.0% |
| CORN | 2023-10-12 | [Soybeans jump higher on bullish WASDE data](https://feedsoft.ai/events/33589-soybeans-jump-higher-on-bullish-wasde-data.md) | -0.4% | -1.5% |
| CORN | 2018-05-10 | [WASDE report shows bullish signs but market reacts cautiously...so far - RealAgriculture](https://feedsoft.ai/events/64968-wasde-report-shows-bullish-signs-but-market-reacts-cautiously-so-far.md) | +0.5% | -2.5% |
| CORN | 2020-11-09 | [November WASDE has bullish surprises for soybeans, corn - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/50092-november-wasde-has-bullish-surprises-for-soybeans-corn-agweek-1-source-for.md) | -0.9% | +7.6% |
| CORN | 2018-05-10 | [WASDE delivers bullish corn, soybean news](https://feedsoft.ai/events/64967-wasde-delivers-bullish-corn-soybean-news.md) | +0.5% | -2.5% |
| SOY | 2022-10-12 | [Turner's Take Ag Markets \| WASDE Bullish Soybeans and Bearish Corn/Wheat](https://feedsoft.ai/events/39095-turner-s-take-ag-markets-wasde-bullish-soybeans-and-bearish-corn-wheat.md) | -0.3% | +4.9% |
| SOY | 2021-08-13 | [August WASDE Report Indicates Bullish Corn Markets - ProAg](https://feedsoft.ai/events/45501-august-wasde-report-indicates-bullish-corn-markets-proag.md) | -5.6% | -9.0% |
| SOY | 2021-11-08 | [November WASDE neutral to bullish for grains - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/44005-november-wasde-neutral-to-bullish-for-grains-agweek-1-source-for-agriculture.md) | +3.5% | +5.8% |

## Sources

- stonex.com: https://www.stonex.com/en/insights/turner-s-take-ag-markets-jan-wasde-bullish/

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