# PF Report Reaction: USDA unexpectedly trims its soybean crop estimate - Pro Farmer

> USDA's November report lowered the soybean crop by 23 million bushels, while traders expected a 36-million-bushel increase. USDA raised the corn crop by 43 million bushels to 15.062 billion, with yield at a record 177.0 bushels per acre. Soybean futures rallied more than 25 cents after the report.

- Date: 2021-11-10 · published 2021-11-10T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/13412-pf-report-reaction-usda-unexpectedly-trims-its-soybean-crop-estimate-pro-farmer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A smaller-than-expected soybean crop tightens US supply for crushers and meal buyers, supporting soybean and soybean meal prices, while record corn output limits corn gains.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2021-11-09 | 1 | +2.5% | 3.3 | Reaction piece describes the crop estimate cut versus an expected rise of 36 million bushels and a soybean rally of more than 25 cents, confirming the surprise supply shock, though it is dated a day later. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-09-30 | [USDA Report Snapshot: Corn, soybean stocks lighter than expected - Pro Farmer](https://feedsoft.ai/events/28254-usda-report-snapshot-corn-soybean-stocks-lighter-than-expected-pro-farmer.md) | -2.6% | -7.3% |
| SOY | 2022-10-05 | [Pro Farmer Crop Estimates Far Below USDA Expectations - AgWeb](https://feedsoft.ai/events/13325-pro-farmer-crop-estimates-far-below-usda-expectations-agweb.md) | -0.5% | +3.8% |
| SOY | 2024-11-08 | [PF Reaction to USDA's Reports \| November 8, 2024 - Pro Farmer](https://feedsoft.ai/events/27341-pf-reaction-to-usda-s-reports-november-8-2024-pro-farmer.md) | -2.9% | -2.1% |
| SOY | 2025-04-10 | [USDA Report Reaction \| USDA cuts corn ending stocks - Pro Farmer](https://feedsoft.ai/events/25070-usda-report-reaction-usda-cuts-corn-ending-stocks-pro-farmer.md) | +2.6% | +2.4% |
| SOY | 2023-06-30 | [PF Report Reaction: Acreage shocker from USDA - Pro Farmer](https://feedsoft.ai/events/35512-pf-report-reaction-acreage-shocker-from-usda-pro-farmer.md) | +0.2% | +0.3% |
| SBM | 2022-10-05 | [Pro Farmer Crop Estimates Far Below USDA Expectations - AgWeb](https://feedsoft.ai/events/13325-pro-farmer-crop-estimates-far-below-usda-expectations-agweb.md) | +2.1% | +5.7% |
| SBM | 2023-06-30 | [PF Report Reaction: Acreage shocker from USDA - Pro Farmer](https://feedsoft.ai/events/35512-pf-report-reaction-acreage-shocker-from-usda-pro-farmer.md) | +1.6% | +11.9% |
| SBM | 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) | +0.4% | +14.8% |

## Sources

- profarmer.com: https://www.profarmer.com/news/agriculture-news/pf-report-reaction-usda-unexpectedly-trims-its-soybean-crop-estimate

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