# Turner's Take Ag Markets | WASDE Bullish Soybeans and Bearish Corn/Wheat

> StoneX's Craig Turner described the October WASDE as bullish for soybeans and bearish for corn and wheat relative to expectations. The USDA cut soybean yield from 50.5 to 49.8 bushels per acre and reduced corn and wheat feed and export demand more than the trade expected. Soft red winter wheat ending stocks fell from 125 to 91 million bushels.

- Date: 2022-10-12 · published 2022-10-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/39095-turner-s-take-ag-markets-wasde-bullish-soybeans-and-bearish-corn-wheat
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Smaller soybean yields support soybean prices, while the demand reductions and higher-than-expected corn stocks pressure corn and wheat. The next major new-crop update is not due until January 2023.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-01-12 | [Turner's Take Ag Markets \| Jan WASDE Bullish](https://feedsoft.ai/events/37733-turner-s-take-ag-markets-jan-wasde-bullish.md) | -0.0% | +0.3% |
| SOY | 2025-05-12 | [Canada Know-Risk Market Outlook \| WASDE Friendly Corn and Soybeans, Bearish Wheat](https://feedsoft.ai/events/24609-canada-know-risk-market-outlook-wasde-friendly-corn-and-soybeans-bearish-wheat.md) | +0.6% | +1.1% |
| SOY | 2023-09-23 | [WASDE shocker boosts corn and soybeans](https://feedsoft.ai/events/34109-wasde-shocker-boosts-corn-and-soybeans.md) | -1.6% | +0.5% |
| SOY | 2020-06-11 | [Slightly Bullish Soybean and Bearish World Wheat Stocks](https://feedsoft.ai/events/52556-slightly-bullish-soybean-and-bearish-world-wheat-stocks.md) | +0.7% | +3.8% |
| SOY | 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) | +3.9% | +5.5% |
| CORN | 2021-10-11 | [Turner's Take Ag Marketing \| October WASDE Bearish for Soybeans and Corn](https://feedsoft.ai/events/44488-turner-s-take-ag-marketing-october-wasde-bearish-for-soybeans-and-corn.md) | -1.0% | +5.7% |
| CORN | 2022-07-12 | [Turner's Take Ag Markets \| WASDE Bearish](https://feedsoft.ai/events/5975-turner-s-take-ag-markets-wasde-bearish.md) | -13.6% | -16.3% |
| CORN | 2023-07-13 | [Bearish WASDE Report Impacting Corn, Soybeans, and Wheat](https://feedsoft.ai/events/34985-bearish-wasde-report-impacting-corn-soybeans-and-wheat.md) | -1.6% | -7.1% |

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/turner-s-take-ag-markets-wasde-bullish-soybeans-and-bearish-corn-wheat/

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