# May 2021 WASDE: Soybeans are Taking the Lead - U.S. Soybean Export Council

> The USDA May WASDE left U.S. soybean carryout and implied stock-to-use unchanged, and USDA revised its soybean oil balance sheets to align with EIA biofuel feedstock accounting. USSEC said the change gives a clearer view of soybean oil's importance to the renewable diesel sector.

- Date: 2021-05-18 · published 2021-05-18T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/47180-may-2021-wasde-soybeans-are-taking-the-lead-u-s-soybean-export-council
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The revised soybean oil balance sheet highlights strong biofuel demand for soy oil, supporting its price relative to meal. Unchanged soybean totals mean no new supply shock from the report.

## Read by commodity

- SBO: bullish ▲
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-07-18 | [Soybean Marketing: Preparing for the August WASDE Report \| CropWatch \| Nebraska](https://feedsoft.ai/events/69986-soybean-marketing-preparing-for-the-august-wasde-report-cropwatch-nebraska.md) | +1.3% | -6.0% |
| SOY | 2021-04-09 | [USDA’s WASDE report confirms corn stocks are shrinking](https://feedsoft.ai/events/47547-usda-s-wasde-report-confirms-corn-stocks-are-shrinking.md) | +0.2% | +13.4% |
| SOY | 2026-02-10 | [USDA Keeps Soybeans Steady, Boosts Corn Export Outlook in February WASDE Report - RFD](https://feedsoft.ai/events/20550-usda-keeps-soybeans-steady-boosts-corn-export-outlook-in-february-wasde-report.md) | +2.1% | +6.9% |
| SOY | 2023-08-11 | [August WASDE cuts export expectations for corn, soybeans and wheat - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12249-august-wasde-cuts-export-expectations-for-corn-soybeans-and-wheat-agweek-1.md) | -5.3% | -4.4% |
| SOY | 2026-04-01 | [USDA leaves U.S. soybean, corn, wheat ending stocks unchanged](https://feedsoft.ai/events/20192-usda-leaves-u-s-soybean-corn-wheat-ending-stocks-unchanged.md) | -0.8% | +1.0% |
| SBO | 2021-11-12 | [Soybean complex takes the lead after WASDE yield surprise - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/7047-soybean-complex-takes-the-lead-after-wasde-yield-surprise-agweek-1-source-for.md) | -0.4% | -5.6% |
| SBO | 2019-09-13 | [AgroPages-USDA, WASDE Reports Rallies The Soybean Market 29¢.-Agricultural news](https://feedsoft.ai/events/10851-agropages-usda-wasde-reports-rallies-the-soybean-market-29-agricultural-news.md) | +2.7% | +2.3% |
| SBO | 2025-05-12 | [USDA: May WASDE predicts soybean oil use in biofuel will expand for 2025-‘26 \| Biomass Magazine](https://feedsoft.ai/events/15120-usda-may-wasde-predicts-soybean-oil-use-in-biofuel-will-expand-for-2025-26.md) | -0.4% | -4.1% |

## Sources

- ussec.org: https://ussec.org/news/may-2021-wasde-soybeans-are-taking-the-lead/

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