# USDA Further Trims Its Forecasts for US Corn and Soybeans

> The October WASDE cut US 2023/24 corn yield to 173 bu/acre, down 0.5%, and soybean yield to 49.6 bu/acre, down 1%. Soybean production is the smallest in four years, and soybean ending stocks are forecast at a seven-year low.

- Date: 2023-10-12 · published 2023-10-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/13238-usda-further-trims-its-forecasts-for-us-corn-and-soybeans
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A smaller soybean crop and tight ending stocks support soybean and meal prices, while the corn cut is partly offset by high stocks.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-09-11 | [USDA Lowers Corn and Soybean Forecasts \| AgWired](https://feedsoft.ai/events/50974-usda-lowers-corn-and-soybean-forecasts-agwired.md) | +4.5% | +5.3% |
| CORN | 2024-05-10 | [USDA Forecasts 14.86 BB Corn Crop, 4.45 BB Soybean Crop](https://feedsoft.ai/events/13186-usda-forecasts-14-86-bb-corn-crop-4-45-bb-soybean-crop.md) | +2.4% | +2.7% |
| CORN | 2017-07-20 | [USDA exports – Sales surge for corn, soybeans and wheat](https://feedsoft.ai/events/69823-usda-exports-sales-surge-for-corn-soybeans-and-wheat.md) | -1.5% | -5.9% |
| CORN | 2025-01-13 | [Cuts to US and global corn and soy inventory forecasts](https://feedsoft.ai/events/26455-cuts-to-us-and-global-corn-and-soy-inventory-forecasts.md) | +1.7% | +1.8% |
| CORN | 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) | +3.5% | +11.2% |
| SOY | 2020-09-11 | [USDA Lowers Corn and Soybean Forecasts \| AgWired](https://feedsoft.ai/events/50974-usda-lowers-corn-and-soybean-forecasts-agwired.md) | +4.4% | +6.6% |
| SOY | 2017-07-20 | [USDA exports – Sales surge for corn, soybeans and wheat](https://feedsoft.ai/events/69823-usda-exports-sales-surge-for-corn-soybeans-and-wheat.md) | -1.1% | -7.8% |
| SOY | 2025-01-13 | [Cuts to US and global corn and soy inventory forecasts](https://feedsoft.ai/events/26455-cuts-to-us-and-global-corn-and-soy-inventory-forecasts.md) | +2.0% | +3.6% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/usda-further-trims-its-forecasts-for-us-corn-and-soybeans/
- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/10/12/usda-releases-october-crop-wasde

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