# July WASDE report fails to inspire corn gains

> The July WASDE showed few surprises for soybeans but erased recent price gains in corn and wheat. New-crop corn stocks tightened on a smaller crop, while old-crop stocks rose on lower ethanol demand. USDA raised its season-average corn price estimate by 15 cents to $3.35 per bushel.

- Date: 2020-07-10 · published 2020-07-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/52076-july-wasde-report-fails-to-inspire-corn-gains
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Weaker ethanol demand and high global stocks cap the upside for corn and wheat, which lowers feed grain costs. Traders had already priced in most of the acreage-driven cut.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2020-07-09 | 1 | -2.7% | -4.1 | The July WASDE (released July 10, after the July 9 close) is dated after the move, so it cannot have caused it, but it signals the bearish positioning and rally unwinding that were likely under way beforehand. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-05-12 | [Initial Reaction to the May WASDE Report](https://feedsoft.ai/events/24611-initial-reaction-to-the-may-wasde-report.md) | -0.1% | -2.0% |
| WHEAT | 2026-02-10 | [USDA cuts corn stocks 100M bushels in February WASDE report](https://feedsoft.ai/events/20547-usda-cuts-corn-stocks-100m-bushels-in-february-wasde-report.md) | +1.9% | +6.3% |
| WHEAT | 2024-04-11 | [Corn struggles for gains after quiet WASDE](https://feedsoft.ai/events/30675-corn-struggles-for-gains-after-quiet-wasde.md) | -0.9% | -0.5% |
| WHEAT | 2025-12-01 | [WASDE report signals continued low wheat, corn prices](https://feedsoft.ai/events/21971-wasde-report-signals-continued-low-wheat-corn-prices.md) | +1.9% | +0.7% |
| WHEAT | 2023-11-09 | [USDA's WASDE report throws a few curveballs - Grainews](https://feedsoft.ai/events/33119-usda-s-wasde-report-throws-a-few-curveballs-grainews.md) | -2.9% | +1.7% |
| CORN | 2023-07-16 | [Was the July WASDE Report a Gift From the USDA?](https://feedsoft.ai/events/7053-was-the-july-wasde-report-a-gift-from-the-usda.md) | -8.6% | -12.6% |
| CORN | 2021-07-12 | [U.S. corn ending stocks top forecasts in WASDE report](https://feedsoft.ai/events/46002-u-s-corn-ending-stocks-top-forecasts-in-wasde-report.md) | -6.7% | -7.2% |
| CORN | 2019-07-12 | [USDA releases July WASDE report - High Plains Journal](https://feedsoft.ai/events/58045-usda-releases-july-wasde-report-high-plains-journal.md) | -3.2% | -7.0% |

## Sources

- farmprogress.com: https://www.farmprogress.com/corn/july-wasde-report-fails-to-inspire-corn-gains
- proag.com: https://www.proag.com/news/july-wasde-report-fails-to-inspire-corn-gains/

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