# USDA NOV 10 Report | Bullish For Corn & Beans

> USDA reduced its 2026/27 U.S. corn production estimate by 141 million bushels and ending stocks by 91 million bushels, while lowering projected use. Soybean production rose by 12 million bushels, but ending stocks fell by 15 million as exports increased by 25 million. USDA raised its 2026/27 corn production estimates for Brazil and Argentina by 2 million tonnes each; South American soybean production estimates were unchanged.

- Date: 2026-11-10 · published 2026-11-11T00:06:13.221Z
- Category: report · region United States · magnitude high
- Page: https://feedsoft.ai/events/92371-usda-nov-10-report-bullish-for-corn-and-beans
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The lower U.S. corn output and soybean stocks support prices, with stronger soybean export projections adding demand. Higher South American corn production and reduced U.S. corn use partly offset the tighter U.S. supply outlook.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- MILK: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2018-05-09 | [Wheat drops 1% ahead of USDA report](https://feedsoft.ai/events/7886-wheat-drops-1-ahead-of-usda-report.md) | -1.7% | +4.1% |
| KWHEAT | 2020-06-12 | [USDA Reports Review - ProAg](https://feedsoft.ai/events/52558-usda-reports-review-proag.md) | -4.1% | +0.1% |
| KWHEAT | 2023-06-20 | [Not much action in USDA's June WASDE report](https://feedsoft.ai/events/9772-not-much-action-in-usda-s-june-wasde-report.md) | +2.9% | -1.8% |
| KWHEAT | 2025-05-12 | [Report Snapshot \| Corn, soybean ending stocks well below expectations - Pro Farmer](https://feedsoft.ai/events/24605-report-snapshot-corn-soybean-ending-stocks-well-below-expectations-pro-farmer.md) | +2.0% | +6.1% |
| KWHEAT | 2023-01-12 | [Corn and soybean production down in 2022, USDA reports
Corn stocks down, soybean stocks down from year earlier
Winter Wheat Seedings up for 2023](https://feedsoft.ai/events/13303-corn-and-soybean-production-down-in-2022-usda-reports-corn-stocks-down-soybean.md) | +1.2% | +6.9% |
| USDBRL | 2022-09-02 | [Brazilian Corn and Soybean 2022/2023 Crop Preview \| Weekly Crop Update](https://feedsoft.ai/events/13698-brazilian-corn-and-soybean-2022-2023-crop-preview-weekly-crop-update.md) | -1.3% | +3.4% |
| USDBRL | 2025-04-11 | [Brazil’s poultry industry surges amid rising global demand - USDA FAS
						 \| The Poultry Site](https://feedsoft.ai/events/25289-brazil-s-poultry-industry-surges-amid-rising-global-demand-usda-fas-the-poultry.md) | -1.9% | -4.4% |
| MILK | 2025-04-04 | [USDA February 2025 Dairy Products Report \| The Bullvine](https://feedsoft.ai/events/25121-usda-february-2025-dairy-products-report-the-bullvine.md) | +1.5% | +8.9% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/usda-adjustments-support-soybeans-corn/
- ca.marketscreener.com: https://ca.marketscreener.com/news/ice-review-canola-rises-on-soy-price-spillover-from-usda-report-ce785edad18ff225
- ncp.mysteel.com: https://ncp.mysteel.com/a/26111108/ADB43D6E78BEF9B4.html
- news.kilambi.com: https://news.kilambi.com/stories/2026-11-10-usda-cuts-corn-soy-ending-stocks-november-wasde/
- teucrium.substack.com: https://teucrium.substack.com/p/november-wasde-recap
- tn.com.ar: https://tn.com.ar/campo/2026/11/10/la-soja-y-los-cereales-subieron-en-chicago-y-en-rosario-tras-conocerse-datos-sobre-la-oferta-mundial-de-granos/
- walshtrading.com: https://walshtrading.com/grain-spreads-post-wasde-gameplan/
- admis.com: https://www.admis.com/usda-nov-10-report-bullish-for-corn-beans/
- agriculture.com: https://www.agriculture.com/soybeans-lead-grains-higher-on-friendly-changes-to-ending-stocks-or-tuesday-nov-10-2026-12247784
- agronegocios.co: https://www.agronegocios.co/mercados/precios-de-la-soja-y-el-maiz-el-10-de-noviembre-de-2026-4521595
- agweb.com: https://www.agweb.com/markets/corn-and-soybeans-rally-bullish-usda-report-did-it-bottom-market
- agweb.com: https://www.agweb.com/news/usda-surprises-markets-cuts-corn-yield-and-grain-ending-stocks
- barchart.com: https://www.barchart.com/story/news/8767967/grain-spreads-post-wasde-gameplan
- barchart.com: https://www.barchart.com/story/news/8770202/corn-rallies-on-yield-cut
- canalrural.com.br: https://www.canalrural.com.br/agricultura/projeto-soja-brasil/soja-dispara-em-chicago-e-precos-sobem-ate-r-4-no-brasil/
- dairyherd.com: https://www.dairyherd.com/news/milk-production-hits-30-year-high-dairy-demand-finds-new-markets
- farmweeknow.com: https://www.farmweeknow.com/profitability/bullish-usda-corn-soy-estimates-spark-market-boost/article_0ed6abd5-9518-4e33-a077-07d40a069846.html
- feedandgrain.com: https://www.feedandgrain.com/business-markets/commodities/news/16425111/usda-cuts-corn-crop-boosts-soybean-exports
- midwestfarmreport.com: https://www.midwestfarmreport.com/2026/11/10/usda-lowers-corn-raises-soybean-production-estimates/
- profarmer.com: https://www.profarmer.com/after-bell-soybeans-corn-shrug-u-s-dollar-strength
- profarmer.com: https://www.profarmer.com/news/agriculture-news/report-snapshot-usda-pegs-corn-yield-179-6-bu-acre
- radioagrocity.com: https://www.radioagrocity.com/post/agro-em-foco-soja-aguarda-o-usda-carne-bovina-acelera-exporta%C3%A7%C3%B5es-e-chuva-forte-%C3%A9-prevista-para-v%C3%A1
- rfdtv.com: https://www.rfdtv.com/usda-lowers-corn-production-forecast-raises-soybean-outlook-in-november-wasde-report
- rrfn.com: https://www.rrfn.com/2026/11/10/less-bearish-than-expected/
- rrfn.com: https://www.rrfn.com/2026/11/10/state-by-state-estimates-released/
- sonde.ar: https://www.sonde.ar/articulo/la-soja-y-los-cereales-subieron-en-chicago-y-rosario-tras-el-informe-del-usda

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