# Grain Journal | USDA January World Agricultural Production Report:…

> The USDA's January World Agricultural Production Report forecast Argentina's 2023/24 soybean crop at 50.0 million metric tons, up 4% from the prior month and roughly double last year. The gain reflects higher yields after favorable rainfall during planting and establishment. Harvested area is also forecast up.

- Date: 2024-01-13 · published 2024-01-13T12:00:00.000Z
- Category: report · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13594-grain-journal-usda-january-world-agricultural-production-report
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A much larger Argentine soybean crop adds export supply and pressures soybean and meal prices, especially as Brazil's crop is trimmed.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-10-27 | [Grain Journal \| USDA Grain Transportation Report 1 (10/27): Barge…](https://feedsoft.ai/events/16672-grain-journal-usda-grain-transportation-report-1-10-27-barge.md) | +4.2% | +3.9% |
| SOY | 2024-01-12 | [USDA Releases January Crop Production, WASDE, Dec. 1 Grain Stocks and Winter Wheat Seedings Reports](https://feedsoft.ai/events/32176-usda-releases-january-crop-production-wasde-dec-1-grain-stocks-and-winter-wheat.md) | -1.5% | -3.9% |
| SOY | 2024-11-13 | [USDA projects fewer acres, greater production ahead for US \| World Grain](https://feedsoft.ai/events/27461-usda-projects-fewer-acres-greater-production-ahead-for-us-world-grain.md) | -0.5% | -0.8% |
| SOY | 2022-01-27 | [Grain Transportation Report, January 27, 2022](https://feedsoft.ai/events/16738-grain-transportation-report-january-27-2022.md) | +7.3% | +15.4% |
| SOY | 2022-06-22 | [Brazil corn production revised upward \| World Grain](https://feedsoft.ai/events/13713-brazil-corn-production-revised-upward-world-grain.md) | -1.0% | -13.8% |
| SBM | 2024-01-12 | [USDA Releases January Crop Production, WASDE, Dec. 1 Grain Stocks and Winter Wheat Seedings Reports](https://feedsoft.ai/events/32176-usda-releases-january-crop-production-wasde-dec-1-grain-stocks-and-winter-wheat.md) | -0.1% | -3.3% |
| SBM | 2024-11-13 | [USDA projects fewer acres, greater production ahead for US \| World Grain](https://feedsoft.ai/events/27461-usda-projects-fewer-acres-greater-production-ahead-for-us-world-grain.md) | -1.8% | -2.7% |
| SBM | 2024-11-13 | [China’s soybean production, imports steady \| World Grain](https://feedsoft.ai/events/27390-china-s-soybean-production-imports-steady-world-grain.md) | -1.8% | -2.7% |

## Sources

- grainjournal.com: https://www.grainjournal.com/article/309783/usda-january-world-agricultural-production-report-argentina-soybean-production-doubled-from-last-year

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