# USDA reports offer mixed view

> USDA's July WASDE raised its 2019 U.S. corn production estimate to 13.875 billion bushels, above the June figure and trade expectations, and left yield at 166 bushels per acre. Old- and new-crop corn ending stocks came in bearish, while soybean ending stocks were viewed as supportive. USDA also flagged an updated ENSO forecast showing El Nino ending.

- Date: 2019-07-11 · published 2019-07-11T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/58044-usda-reports-offer-mixed-view
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A larger corn crop and bigger carryout pressure corn prices, while the smaller soybean outlook and weather risk from the end of El Nino support soybean and feed prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-10-12 | [USDA Reports Review](https://feedsoft.ai/events/39097-usda-reports-review.md) | -0.3% | +4.9% |
| SOY | 2020-09-11 | [USDA Reports Review](https://feedsoft.ai/events/51068-usda-reports-review.md) | +4.4% | +6.6% |
| SOY | 2020-01-13 | [USDA reports offer mixed signals \| 2020-01-13  \| World Grain](https://feedsoft.ai/events/55020-usda-reports-offer-mixed-signals-2020-01-13-world-grain.md) | -0.6% | -5.4% |
| SOY | 2017-09-29 | [USDA Reports Flash](https://feedsoft.ai/events/68898-usda-reports-flash.md) | +0.9% | +1.2% |
| SOY | 2018-04-10 | [USDA Reports Flash](https://feedsoft.ai/events/65481-usda-reports-flash.md) | -0.5% | -4.3% |
| CORN | 2022-10-12 | [USDA Reports Review](https://feedsoft.ai/events/39097-usda-reports-review.md) | +1.9% | -1.0% |
| CORN | 2019-04-09 | [Futures mixed after mixed USDA reports](https://feedsoft.ai/events/59544-futures-mixed-after-mixed-usda-reports.md) | +1.8% | -0.5% |
| CORN | 2017-09-28 | [USDA Reports Preview](https://feedsoft.ai/events/68982-usda-reports-preview.md) | +2.6% | +2.3% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/market-news/usda-reports-offer-mixed-view
- proag.com: https://www.proag.com/news/usda-reports-offer-mixed-view/

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