# Grains: November WASDE provides some clarity with China the near-term swing factor | Saxo Bank

> The November WASDE showed corn ending stocks lifted to 2.154 billion bushels with yield trimmed to 186.0 bpa, soybeans tightening modestly, and wheat loosening more than expected. The report led to a broad risk reset in Chicago grains after a near 10% rally built during the government data blackout.

- Date: 2025-11-17 · published 2025-11-17T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/7894-grains-november-wasde-provides-some-clarity-with-china-the-near-term-swing
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The bearish wheat and corn balance sheets reduce price support, while soybeans get mild support that depends on confirmed Chinese buying.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-11-04 | [Grains: November WASDE provides some clarity with China the near-term swing factor \| Saxo](https://feedsoft.ai/events/6938-grains-november-wasde-provides-some-clarity-with-china-the-near-term-swing.md) | +0.3% | +2.8% |
| CORN | 2017-09-12 | [September WASDE throws grains in the red \| Farm Progress](https://feedsoft.ai/events/68899-september-wasde-throws-grains-in-the-red-farm-progress.md) | +0.9% | +3.8% |
| CORN | 2025-11-14 | [USDA Provides Fresh Data with November WASDE Report and Flash Sales Data \| American Ag Network](https://feedsoft.ai/events/21890-usda-provides-fresh-data-with-november-wasde-report-and-flash-sales-data.md) | -0.8% | -0.3% |
| CORN | 2026-03-10 | [WASDE Non-Event but Corn, Wheat Lower With Plunging Crude Oil: Is the Top in the Grains? - AgWeb](https://feedsoft.ai/events/10384-wasde-non-event-but-corn-wheat-lower-with-plunging-crude-oil-is-the-top-in-the.md) | +3.2% | +2.8% |
| CORN | 2019-08-13 | [The Commodities Feed: Bearish WASDE surprises grain market \| snaps \| ING THINK](https://feedsoft.ai/events/57541-the-commodities-feed-bearish-wasde-surprises-grain-market-snaps-ing-think.md) | -3.3% | -8.2% |
| WHEAT | 2025-11-04 | [Grains: November WASDE provides some clarity with China the near-term swing factor \| Saxo](https://feedsoft.ai/events/6938-grains-november-wasde-provides-some-clarity-with-china-the-near-term-swing.md) | -3.7% | -1.2% |
| WHEAT | 2026-03-10 | [WASDE Non-Event but Corn, Wheat Lower With Plunging Crude Oil: Is the Top in the Grains? - AgWeb](https://feedsoft.ai/events/10384-wasde-non-event-but-corn-wheat-lower-with-plunging-crude-oil-is-the-top-in-the.md) | -1.3% | -1.1% |
| WHEAT | 2020-12-09 | [Will WASDE break the grains selloff?](https://feedsoft.ai/events/5274-will-wasde-break-the-grains-selloff.md) | -1.1% | +4.5% |

## Sources

- home.saxo: https://www.home.saxo/en-mena/content/articles/commodities/grains-november-wasde-provides-some-clarity-with-china-the-near-term-swing-factor-17112025

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