# USDA Lowers Corn and Soybean Yields and Production

> USDA's August 2023 Crop Production and WASDE reports lowered U.S. corn yield to 175.1 bushels per acre, cutting production to 15.11 billion bushels, and lowered soybean yield to 50.9 bpa with production at 4.2 billion bushels. The estimates came in below the DTN Digital Yield Tour's 177 bpa corn forecast.

- Date: 2023-08-11 · published 2023-08-11T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/12250-usda-lowers-corn-and-soybean-yields-and-production
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A smaller U.S. corn and soybean crop tightens supply for feed buyers and supports prices, although the report's new-crop ending stocks were roughly neutral, which limits the rally.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- DDGS: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-10-12 | [USDA Lowers Corn, Soybean Yields Slightly](https://feedsoft.ai/events/39176-usda-lowers-corn-soybean-yields-slightly.md) | +3.6% | +4.6% |
| WHEAT | 2022-08-12 | [USDA Projects Higher Soybean Yield, Lower Demand](https://feedsoft.ai/events/39955-usda-projects-higher-soybean-yield-lower-demand.md) | -2.3% | -11.7% |
| WHEAT | 2022-05-12 | [Corn, Soybean Production Numbers as Expected in May USDA Report](https://feedsoft.ai/events/41348-corn-soybean-production-numbers-as-expected-in-may-usda-report.md) | +5.9% | +0.7% |
| WHEAT | 2024-06-12 | [USDA Projects Slightly Lower Brazilian Soybean Production](https://feedsoft.ai/events/29690-usda-projects-slightly-lower-brazilian-soybean-production.md) | -2.1% | -3.3% |
| WHEAT | 2020-08-21 | [Pro Farmer Estimates National Corn and Soybeans Yields Below USDA Forecasts](https://feedsoft.ai/events/51456-pro-farmer-estimates-national-corn-and-soybeans-yields-below-usda-forecasts.md) | +3.1% | +11.3% |
| CORN | 2022-09-12 | [USDA Lowers Corn and Soybean Yields](https://feedsoft.ai/events/39551-usda-lowers-corn-and-soybean-yields.md) | -1.1% | -1.5% |
| CORN | 2021-01-13 | [USDA Lowers Soybean Stocks and Corn Yield](https://feedsoft.ai/events/49088-usda-lowers-soybean-stocks-and-corn-yield.md) | +2.0% | +7.5% |
| CORN | 2022-10-12 | [USDA Lowers Corn, Soybean Yields Slightly](https://feedsoft.ai/events/39176-usda-lowers-corn-soybean-yields-slightly.md) | +1.9% | -1.0% |

## Sources

- agriculture.com: https://www.agriculture.com/august-2023-wasde-report-7642380
- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/08/11/usda-releases-august-crop-production
- farmprogress.com: https://www.farmprogress.com/marketing/usda-reports-smaller-2023-corn-soybean-production

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