# CBOT weekly outlook: Some surprises in USDA's WASDE - AgCanada

> USDA's December WASDE cut 2020-21 soybean ending stocks to 175 million bushels from 190 million, above trade expectations of 168 million, and raised the crush. Corn carryout was left unchanged for another month, while wheat ending stocks were reduced by more than expected.

- Date: 2020-12-10 · published 2020-12-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/49579-cbot-weekly-outlook-some-surprises-in-usda-s-wasde-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Soybeans gained double digits initially, but corn gave up its early gains and the trade had pre-bought ahead of the report. The soybean and wheat cuts support the feed-grain balance sheet into the new year.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: neutral
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-01-14 | [ICE weekly outlook: WASDE spillover boosts canola - AgCanada](https://feedsoft.ai/events/49257-ice-weekly-outlook-wasde-spillover-boosts-canola-agcanada.md) | +1.4% | -5.0% |
| WHEAT | 2018-11-17 | [Positives and negatives both loom in cereal outlook - AgCanada](https://feedsoft.ai/events/11724-positives-and-negatives-both-loom-in-cereal-outlook-agcanada.md) | -0.1% | +4.8% |
| WHEAT | 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) | -0.4% | -0.3% |
| WHEAT | 2018-08-13 | [No surprises in USDA report \| Farm Online \| ACT](https://feedsoft.ai/events/63483-no-surprises-in-usda-report-farm-online-act.md) | -1.8% | +3.1% |
| WHEAT | 2026-08-12 | [USDA Lowers Corn, Wheat and Cattle Outlooks in August WASDE - RFD](https://feedsoft.ai/events/17855-usda-lowers-corn-wheat-and-cattle-outlooks-in-august-wasde-rfd.md) | +6.3% | +11.0% |
| CORN | 2018-02-08 | [CBOT weekly outlook: USDA report delivers no surprises - AgCanada](https://feedsoft.ai/events/66452-cbot-weekly-outlook-usda-report-delivers-no-surprises-agcanada.md) | +0.2% | +2.3% |
| CORN | 2020-06-11 | [No major surprises in USDA's WASDE report - Brownfield Ag News](https://feedsoft.ai/events/52555-no-major-surprises-in-usda-s-wasde-report-brownfield-ag-news.md) | +1.0% | +5.3% |
| CORN | 2021-12-09 | [No Surprises in December WASDE \| Feed & Grain](https://feedsoft.ai/events/43525-no-surprises-in-december-wasde-feed-and-grain.md) | -0.4% | -0.7% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/cbot-weekly-outlook-some-surprises-in-usdas-wasde
- grainews.ca: https://www.grainews.ca/daily/cbot-weekly-outlook-some-surprises-in-usdas-wasde/

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