# U.S. corn ending stocks top forecasts in WASDE report

> USDA projected 2021-22 U.S. corn ending stocks at 1.432 billion bushels, above the analyst consensus of 1.361 billion. Wheat production was cut 152 million bushels on drought in the Northern Plains, and 2020-21 corn stocks were trimmed. J.P. Morgan called the report an incremental negative for U.S. farmers.

- Date: 2021-07-12 · published 2021-07-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/46002-u-s-corn-ending-stocks-top-forecasts-in-wasde-report
- 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

Corn ending stocks above expectations weigh on corn prices, while lower wheat output supports wheat and feed-grain substitution demand.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-07-18 | 5 | -11.2% | -3.3 | Corn ending stocks of 1.432 billion bushels topped the 1.361 billion consensus, adding bearish pressure. |
| CORN | 2021-07-14 | 1 | -10.9% | -6.4 | Corn ending stocks of 1.432 bn bu were well above the 1.361 bn consensus, a bearish fundamental that weighed on corn. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-01-12 | [USDA Forecasts Record U.S. Corn Crop, Higher Ending Stocks in January WASDE Report - RFD](https://feedsoft.ai/events/20998-usda-forecasts-record-u-s-corn-crop-higher-ending-stocks-in-january-wasde.md) | -2.8% | -1.7% |
| CORN | 2022-12-12 | [U.S. corn stocks rise in December WASDE](https://feedsoft.ai/events/38187-u-s-corn-stocks-rise-in-december-wasde.md) | +1.6% | +2.6% |
| CORN | 2023-03-08 | [Report snapshot: higher U.S. and global corn ending stocks - Pro Farmer](https://feedsoft.ai/events/36816-report-snapshot-higher-u-s-and-global-corn-ending-stocks-pro-farmer.md) | -1.6% | -0.6% |
| CORN | 2022-04-08 | [PF Report Reaction: U.S. corn, wheat ending stocks higher than expected - Pro Farmer](https://feedsoft.ai/events/41798-pf-report-reaction-u-s-corn-wheat-ending-stocks-higher-than-expected-pro-farmer.md) | -0.7% | -6.4% |
| CORN | 2022-12-09 | [Lastest WASDE, Ending stocks Estimates were Neutral for Corn, Soybeans and Wheat - Oklahoma Farm Report](https://feedsoft.ai/events/38190-lastest-wasde-ending-stocks-estimates-were-neutral-for-corn-soybeans-and-wheat.md) | +1.9% | +2.9% |
| SOY | 2026-01-12 | [USDA Forecasts Record U.S. Corn Crop, Higher Ending Stocks in January WASDE Report - RFD](https://feedsoft.ai/events/20998-usda-forecasts-record-u-s-corn-crop-higher-ending-stocks-in-january-wasde.md) | +0.9% | +5.9% |
| SOY | 2024-12-10 | [USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report \| Feed & Grain](https://feedsoft.ai/events/26902-usda-forecasts-lower-us-wheat-stocks-raises-corn-exports-in-latest-wasde-report.md) | -0.8% | -0.3% |
| SOY | 2025-07-11 | [USDA Lowers New-Crop Corn Ending Stocks More Than Expected in Latest WASDE.](https://feedsoft.ai/events/23706-usda-lowers-new-crop-corn-ending-stocks-more-than-expected-in-latest-wasde.md) | +0.9% | -4.0% |

## Sources

- meatingplace.com: https://meatingplace.com/u-s-corn-ending-stocks-top-forecasts-in-wasde-report/

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