# July WASDE report gets bearish reaction - Agweek | #1 source for agriculture news, farming, markets

> The USDA July WASDE set 2020-21 US corn production near 15 billion bushels, in line with expectations after a 5.6 million acre drop in harvested area. Corn ending stocks were cut 675 million bushels to 2.648 billion, while old-crop stocks rose 145 million bushels, and world corn ending stocks fell 22.9 million tonnes to 315 million. US soybean production came in at 4.135 billion bushels, slightly below trade guesses.

- Date: 2020-07-10 · published 2020-07-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/5364-july-wasde-report-gets-bearish-reaction-agweek-1-source-for-agriculture-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower new-crop corn stocks signal tighter supply, but traders still see 2.6 billion bushels as a large burden, so corn prices reacted bearishly. Soybean output slightly below expectations offers modest support for feed meal pricing.

## Read by commodity

- SOY: neutral
- CORN: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2020-07-10 | 1 | -2.7% | -3.2 | Agweek reports a bearish market reaction to the July 10 WASDE, since production was in line with expectations and old-crop stocks rose, so the supply cut was already priced in and selling followed. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-11-14 | [Markets react immediately to bearish WASDE reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/21889-markets-react-immediately-to-bearish-wasde-reports-agweek-1-source-for.md) | -0.8% | -0.3% |
| CORN | 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) | -1.9% | -5.7% |
| CORN | 2017-03-12 | [WASDE report puts major ag products on defensive - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11203-wasde-report-puts-major-ag-products-on-defensive-agweek-1-source-for.md) | +2.4% | +0.9% |
| CORN | 2020-05-12 | [WASDE report shows new crop ending stocks shrinking, corn stocks rising - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53058-wasde-report-shows-new-crop-ending-stocks-shrinking-corn-stocks-rising-agweek-1.md) | +0.6% | +4.2% |
| CORN | 2021-07-12 | [July WASDE optimistic for wheat but less so for corn and soybeans - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/46005-july-wasde-optimistic-for-wheat-but-less-so-for-corn-and-soybeans-agweek-1.md) | -6.7% | -7.2% |
| SOY | 2021-05-12 | [May WASDE report gives first look at new crop outlook - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/47042-may-wasde-report-gives-first-look-at-new-crop-outlook-agweek-1-source-for.md) | -3.9% | -4.6% |
| SOY | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -2.4% | -4.7% |
| SOY | 2020-05-12 | [WASDE report shows new crop ending stocks shrinking, corn stocks rising - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53058-wasde-report-shows-new-crop-ending-stocks-shrinking-corn-stocks-rising-agweek-1.md) | -0.9% | +1.3% |

## Sources

- agweek.com: https://www.agweek.com/business/july-wasde-report-gets-bearish-reaction

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