# USDA cuts U.S. ag export forecast amid weaker soybean demand

> The USDA cut its forecast for U.S. agricultural exports, citing weaker soybean demand. China's October soybean imports from the United States fell sharply during what is normally a peak season. Poor crush margins and competitive Brazilian beans were cited as the main reasons.

- Date: 2021-11-24 · published 2021-11-24T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/14976-usda-cuts-u-s-ag-export-forecast-amid-weaker-soybean-demand
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower foreign purchases of U.S. soybeans leave more supply domestically, which is bearish for soybean prices. Buyers should expect softer U.S. soy values while Brazilian competition persists.

## Read by commodity

- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-04-11 | [USDA Forecasts Steady U.S. Corn and Soybean Supplies](https://feedsoft.ai/events/36342-usda-forecasts-steady-u-s-corn-and-soybean-supplies.md) | +2.0% | -1.2% |
| SOY | 2024-08-12 | [USDA Forecasts Record Soybean Crop](https://feedsoft.ai/events/28713-usda-forecasts-record-soybean-crop.md) | -8.7% | -2.7% |
| SOY | 2018-11-08 | [USDA slashes China soybean import forecast 9.5%](https://feedsoft.ai/events/62042-usda-slashes-china-soybean-import-forecast-9-5.md) | +0.3% | +5.6% |
| SOY | 2023-02-27 | [USDA Releases Lower Ag Export Forecast for 2023](https://feedsoft.ai/events/37388-usda-releases-lower-ag-export-forecast-for-2023.md) | +0.1% | -6.6% |
| SOY | 2018-07-12 | [China cuts soybean import forecast in face of trade war](https://feedsoft.ai/events/63895-china-cuts-soybean-import-forecast-in-face-of-trade-war.md) | +1.5% | +7.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/usda-cuts-us-ag-export-forecast-amid-weaker-soybean-demand-2021-11-24/

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