# November WASDE has bullish surprises for soybeans, corn - Agweek | #1 source for agriculture news, farming, markets

> The November WASDE cut US soybean yield to 50.7 bu/acre and production to 4.17 billion bushels, reducing soybean ending stocks by 100 million bushels to 190 million. USDA also lowered corn yield to 175.8 bu/acre and corn ending stocks to 1.702 billion bushels after raising exports by 325 million bushels.

- Date: 2020-11-09 · published 2020-11-09T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/50092-november-wasde-has-bullish-surprises-for-soybeans-corn-agweek-1-source-for
- Commodities: [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

Tighter US soybean and corn carryouts point to continued price support, with analysts expecting soybean futures to target $12 as stocks approach pipeline levels. Higher export demand from China and Mexico reinforces the bullish supply picture for feed grains and meal.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2020-11-16 | 5 | +9.7% | 4.8 | The WASDE cut the corn yield and ending stocks after raising exports by 325M bushels, tightening the balance sheet. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 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) | -1.1% | +3.4% |
| CORN | 2023-01-12 | [U.S. reduces corn, soybean harvest views - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13310-u-s-reduces-corn-soybean-harvest-views-agweek-1-source-for-agriculture-news.md) | +2.2% | +2.2% |
| CORN | 2021-08-11 | [August WASDE report friendly to markets, especially corn - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/45500-august-wasde-report-friendly-to-markets-especially-corn-agweek-1-source-for.md) | +1.1% | -7.3% |
| CORN | 2016-07-14 | [COLUMN: Will the Bulls Dominate Again? - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/4940-column-will-the-bulls-dominate-again-agweek-1-source-for-agriculture-news.md) | +3.9% | -0.6% |
| CORN | 2021-08-20 | [Market turns quiet after report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming.md) | +0.4% | -6.4% |
| SOY | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -2.1% | -2.3% |
| SOY | 2021-11-08 | [November WASDE neutral to bullish for grains - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/44005-november-wasde-neutral-to-bullish-for-grains-agweek-1-source-for-agriculture.md) | +3.5% | +5.8% |
| SOY | 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) | +4.4% | +4.6% |

## Sources

- agweek.com: https://www.agweek.com/business/november-wasde-has-bullish-surprises-for-soybeans-corn

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