# WASDE Report Surprises With Lower Yield, Production, Soy Stocks

> USDA's November WASDE lowered the US soybean yield and production estimates below trade expectations and trimmed ending stocks. January soybean futures reacted sharply higher after the report, while corn and wheat rallied in sympathy.

- Date: 2021-11-09 · published 2021-11-09T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/43997-wasde-report-surprises-with-lower-yield-production-soy-stocks
- 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

A smaller US soybean crop and tighter carryout support soybean and soymeal prices, and the rally in corn and wheat shows the spillover across grains for feed buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-11-11 | [November WASDE Surprises With Larger-Than-Expected Yield, Production Cuts](https://feedsoft.ai/events/27339-november-wasde-surprises-with-larger-than-expected-yield-production-cuts.md) | -1.8% | -2.6% |
| SOY | 2025-09-13 | [WASDE: USDA surprises with even bigger corn production](https://feedsoft.ai/events/6849-wasde-usda-surprises-with-even-bigger-corn-production.md) | -0.0% | -1.9% |
| SOY | 2024-07-12 | [July WASDE Surprises Trade With Old Crop Ending Stocks Reductions](https://feedsoft.ai/events/7099-july-wasde-surprises-trade-with-old-crop-ending-stocks-reductions.md) | -3.9% | -11.6% |
| SOY | 2025-01-10 | [WASDE: Lower corn, soy production lifts prices significantly](https://feedsoft.ai/events/13118-wasde-lower-corn-soy-production-lifts-prices-significantly.md) | +2.7% | +5.8% |
| SOY | 2024-11-08 | [USDA Surprisingly Lowers Corn and Soybean Yield and Ending Stocks in WASDE - AgWeb](https://feedsoft.ai/events/13135-usda-surprisingly-lowers-corn-and-soybean-yield-and-ending-stocks-in-wasde-agweb.md) | -2.9% | -2.1% |
| CORN | 2024-11-11 | [November WASDE Surprises With Larger-Than-Expected Yield, Production Cuts](https://feedsoft.ai/events/27339-november-wasde-surprises-with-larger-than-expected-yield-production-cuts.md) | -1.2% | -0.1% |
| CORN | 2025-09-13 | [WASDE: USDA surprises with even bigger corn production](https://feedsoft.ai/events/6849-wasde-usda-surprises-with-even-bigger-corn-production.md) | +5.1% | +2.8% |
| CORN | 2024-07-12 | [July WASDE Surprises Trade With Old Crop Ending Stocks Reductions](https://feedsoft.ai/events/7099-july-wasde-surprises-trade-with-old-crop-ending-stocks-reductions.md) | -2.4% | -2.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2021/11/09/wasde-report-surprises-lower-yield

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