# Old-Crop Corn Stocks Surprise of WASDE Report | Feed & Grain

> USDA's June WASDE cut 150 million bushels from old-crop U.S. corn ending stocks, a bigger reduction than trade expectations. Brazil's corn crop was cut as expected, while the trade had looked for a lower total. Global wheat production was raised, mainly for major exporters.

- Date: 2021-06-11 · published 2021-06-11T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/46505-old-crop-corn-stocks-surprise-of-wasde-report-feed-and-grain
- 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

A larger-than-expected cut in U.S. old-crop corn stocks tightens the feed grain supply and supports corn prices. Feed buyers should expect firmer corn costs while oilseed balances stay tight.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2021-06-16 | 5 | -8.3% | -2.8 | The June WASDE (reported 2021-06-11) raised global wheat production, mainly for major exporters, which is bearish for wheat supply balances and plausibly drove part of the HRW decline, though the bullish corn stocks cut partly offsets it. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-12-03 | [Ag Markets Surprised by Stocks Report \| Feed & Grain](https://feedsoft.ai/events/49582-ag-markets-surprised-by-stocks-report-feed-and-grain.md) | +0.0% | +3.9% |
| CORN | 2021-06-10 | [Corn stocks cut in USDA WASDE report - Grainews](https://feedsoft.ai/events/46509-corn-stocks-cut-in-usda-wasde-report-grainews.md) | -1.8% | -2.6% |
| CORN | 2021-06-11 | [WASDE Slashes Corn Ending Stocks \| Feed & Grain](https://feedsoft.ai/events/46506-wasde-slashes-corn-ending-stocks-feed-and-grain.md) | -6.1% | -4.6% |
| CORN | 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) | +1.6% | +2.9% |
| 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% |
| SOY | 2025-10-01 | [USDA Grain Stocks Report Surprises Corn and Wheat - RFD](https://feedsoft.ai/events/9845-usda-grain-stocks-report-surprises-corn-and-wheat-rfd.md) | +2.0% | +7.6% |
| SOY | 2021-07-12 | [Grain Stocks Surprise Traders in the July WASDE Report \| Red River Farm Network](https://feedsoft.ai/events/46000-grain-stocks-surprise-traders-in-the-july-wasde-report-red-river-farm-network.md) | +3.6% | +1.3% |
| SOY | 2017-09-25 | [Friday’s Grain Stocks report could shake prices \| Feedstuffs](https://feedsoft.ai/events/68983-friday-s-grain-stocks-report-could-shake-prices-feedstuffs.md) | -1.6% | -0.6% |

## Sources

- feedandgrain.com: https://www.feedandgrain.com/events/event-calendar/blog/15387051/old-crop-corn-stocks-surprise-of-wasde-report

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