# USDA Projects Slightly Lower Brazilian Soybean Production

> USDA's June WASDE trimmed its Brazilian soybean production estimate slightly, while keeping the 2023/24 crop mostly intact despite flooding in Rio Grande do Sul. The report also raised U.S. 2024/25 soybean ending stocks to 455 million bushels. Russian and EU wheat production forecasts were cut in the same release.

- Date: 2024-06-12 · published 2024-06-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29690-usda-projects-slightly-lower-brazilian-soybean-production
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A smaller-than-expected Brazilian cut leaves ample South American supply, which weighs on soybean and meal prices. Higher U.S. soybean stocks add to that bearish pressure.

## Read by commodity

- SBM: neutral
- SOY: bearish ▼
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-08-12 | [USDA Projects Higher Soybean Yield, Lower Demand](https://feedsoft.ai/events/39955-usda-projects-higher-soybean-yield-lower-demand.md) | -12.5% | -12.9% |
| SOY | 2022-08-12 | [USDA Lowers Corn Production, Increases Soybean Production in August Reports](https://feedsoft.ai/events/39956-usda-lowers-corn-production-increases-soybean-production-in-august-reports.md) | -12.5% | -12.9% |
| SOY | 2022-11-09 | [USDA Projects Higher Corn and Soybean Supply](https://feedsoft.ai/events/38641-usda-projects-higher-corn-and-soybean-supply.md) | +0.9% | +1.9% |
| SOY | 2018-07-12 | [USDA Bumps Corn and Soybean Production, Drops Soybean Exports](https://feedsoft.ai/events/63997-usda-bumps-corn-and-soybean-production-drops-soybean-exports.md) | +1.5% | +7.7% |
| SOY | 2017-08-10 | [USDA Forecasts Record-High Soybean Production in 2017](https://feedsoft.ai/events/69299-usda-forecasts-record-high-soybean-production-in-2017.md) | -4.3% | +0.0% |
| SBM | 2025-04-30 | [US soybean oil consumption for RD production hits all-time low](https://feedsoft.ai/events/25203-us-soybean-oil-consumption-for-rd-production-hits-all-time-low.md) | -1.5% | +1.2% |
| SBM | 2026-10-28 | [Processing Journal \| USDA Raises 2026-27 U.S. Soybean Production…](https://feedsoft.ai/events/80-processing-journal-usda-raises-2026-27-u-s-soybean-production.md) | -3.8% | — |
| SBM | 2025-02-28 | [US soybeans production to fall in next marketing year: USDA](https://feedsoft.ai/events/26096-us-soybeans-production-to-fall-in-next-marketing-year-usda.md) | +1.7% | +1.5% |

## Sources

- agriculture.com: https://www.agriculture.com/june-usda-wadse-report-8641589

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