# PF Report Reaction: Soybean crop much bigger than expected, corn data mildly supportive. - Pro Farmer

> Pro Farmer's report reaction says the U.S. soybean crop at 4.589 billion bushels came in well above the 4.469 billion trade estimate. Corn production was 15.147 billion bushels, slightly above expectations, but old- and new-crop corn ending stocks were cut. Soybeans fell 20 to 22 cents in midday trade.

- Date: 2024-08-12 · published 2024-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/28716-pf-report-reaction-soybean-crop-much-bigger-than-expected-corn-data-mildly
- 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

The large soybean crop is bearish for soybeans and soybean meal, which feed buyers use as protein. The corn stock cut is supportive for corn prices despite the larger production figure.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-08-12 | [PF Report Reaction: Record soybean crop estimate pushed new-crop ending stocks higher than expected - Pro Farmer](https://feedsoft.ai/events/39962-pf-report-reaction-record-soybean-crop-estimate-pushed-new-crop-ending-stocks.md) | -12.5% | -12.9% |
| SOY | 2022-03-31 | [PF Report Reaction: Corn, soybean planting intentions shock markets - Pro Farmer](https://feedsoft.ai/events/42295-pf-report-reaction-corn-soybean-planting-intentions-shock-markets-pro-farmer.md) | -2.7% | +2.6% |
| SOY | 2021-12-09 | [PF Report Reaction: USDA delivers a yawner, as expected - Pro Farmer](https://feedsoft.ai/events/43526-pf-report-reaction-usda-delivers-a-yawner-as-expected-pro-farmer.md) | +0.1% | +9.2% |
| SOY | 2023-09-29 | [PF Report Reaction: Markets react negatively to Sept. 29 data - Pro Farmer](https://feedsoft.ai/events/34113-pf-report-reaction-markets-react-negatively-to-sept-29-data-pro-farmer.md) | -1.5% | -1.6% |
| SOY | 2025-07-11 | [PF Reaction to USDA Reports \| USDA cuts old-, new-crop corn ending stocks - Pro Farmer](https://feedsoft.ai/events/23714-pf-reaction-to-usda-reports-usda-cuts-old-new-crop-corn-ending-stocks-pro-farmer.md) | +0.9% | -4.0% |
| SBM | 2022-08-12 | [PF Report Reaction: Record soybean crop estimate pushed new-crop ending stocks higher than expected - Pro Farmer](https://feedsoft.ai/events/39962-pf-report-reaction-record-soybean-crop-estimate-pushed-new-crop-ending-stocks.md) | -10.9% | -15.4% |
| SBM | 2022-03-31 | [PF Report Reaction: Corn, soybean planting intentions shock markets - Pro Farmer](https://feedsoft.ai/events/42295-pf-report-reaction-corn-soybean-planting-intentions-shock-markets-pro-farmer.md) | -2.3% | -6.5% |
| SBM | 2023-09-29 | [PF Report Reaction: Markets react negatively to Sept. 29 data - Pro Farmer](https://feedsoft.ai/events/34113-pf-report-reaction-markets-react-negatively-to-sept-29-data-pro-farmer.md) | -4.6% | +9.0% |

## Sources

- profarmer.com: https://www.profarmer.com/news/agriculture-news/pf-report-reaction-soybean-crop-much-bigger-expected-corn-data-mildly-supportive

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