# The WASDE Slashes Global Grains Stock Estimates | CZ app

> The November WASDE cut global corn stocks by 9 million tonnes, soybeans by 2.2 million tonnes and wheat by 1 million tonnes, with most reductions in the US. USDA also cut Ukrainian corn production by 8 million tonnes and EU production by 2 million tonnes, and corn and soybean prices rallied after the release.

- Date: 2020-11-17 · published 2020-11-17T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/50094-the-wasde-slashes-global-grains-stock-estimates-cz-app
- 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

Lower global corn and wheat stocks, especially from Ukraine and the EU, tighten export supplies and support feed grain prices. The price forecast commentary suggests the market has already priced in much of the bullish surprise.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2020-11-16 | 5 | +9.7% | 4.8 | Global corn stocks were cut by 9 Mt, including lower Ukrainian and EU output, and prices rallied after the release. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-05-13 | [WASDE update: Supportive grain estimates for 2024/25 \| articles \| ING THINK](https://feedsoft.ai/events/30214-wasde-update-supportive-grain-estimates-for-2024-25-articles-ing-think.md) | -0.0% | +0.5% |
| CORN | 2020-12-09 | [Will WASDE break the grains selloff?](https://feedsoft.ai/events/5274-will-wasde-break-the-grains-selloff.md) | +1.3% | +9.8% |
| CORN | 2020-06-11 | [Wheat slides on record global stocks estimate - Markets - Business Recorder](https://feedsoft.ai/events/52557-wheat-slides-on-record-global-stocks-estimate-markets-business-recorder.md) | +1.0% | +5.3% |
| CORN | 2018-07-12 | [WASDE Boosts Corn, Soybean Stocks – Lakeview Grains, LLC](https://feedsoft.ai/events/64001-wasde-boosts-corn-soybean-stocks-lakeview-grains-llc.md) | +2.9% | +12.0% |
| SOY | 2023-07-01 | [U.S. grains: Soy soars after USDA slashes plantings estimate - Grainews](https://feedsoft.ai/events/35069-u-s-grains-soy-soars-after-usda-slashes-plantings-estimate-grainews.md) | -3.2% | -7.2% |
| SOY | 2020-12-09 | [Will WASDE break the grains selloff?](https://feedsoft.ai/events/5274-will-wasde-break-the-grains-selloff.md) | +3.4% | +18.7% |
| SOY | 2021-01-12 | [New WASDE: World Agricultural Supply & Demand Estimates \| The Mighty 790 KFGO \| KFGO](https://feedsoft.ai/events/49094-new-wasde-world-agricultural-supply-and-demand-estimates-the-mighty-790-kfgo.md) | +0.8% | +2.0% |

## Sources

- czapp.com: https://www.czapp.com/analyst-insights/the-wasde-slashes-global-grains-stock-estimates/

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