# USDA Cuts Brazil Soy Production 1 MMT

> USDA cut Brazil's 2023/24 soybean production by 1 million tonnes to 155 million tonnes, toward the high end of pre-report expectations, and left Argentina soybeans at 50 million tonnes. Brazil corn production was held at 124 million tonnes with exports at 52 million tonnes, and the U.S. corn farm price was lowered 5 cents.

- Date: 2024-03-08 · published 2024-03-08T12:00:00.000Z
- Category: report · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/31135-usda-cuts-brazil-soy-production-1-mmt
- 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 Brazil soybean crop tightens export supplies and supports soybean meal, while unchanged Brazil corn output limits upside in feed grains.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-03-08 | [March WASDE: USDA Steps Down Brazil Soybean Production](https://feedsoft.ai/events/31129-march-wasde-usda-steps-down-brazil-soybean-production.md) | +2.1% | +2.4% |
| SOY | 2024-05-10 | [USDA Lowers Estimates for Brazil Corn and Soy Production](https://feedsoft.ai/events/30215-usda-lowers-estimates-for-brazil-corn-and-soy-production.md) | +2.0% | -1.1% |
| SOY | 2022-02-11 | [Conab Lowers Brazil's 2021/22 Soybean Production 15 Million Tons](https://feedsoft.ai/events/13741-conab-lowers-brazil-s-2021-22-soybean-production-15-million-tons.md) | +1.1% | +7.4% |
| SOY | 2023-08-11 | [USDA Lowers Corn and Soybean Yields and Production](https://feedsoft.ai/events/12250-usda-lowers-corn-and-soybean-yields-and-production.md) | -5.3% | -4.4% |
| SOY | 2019-09-12 | [USDA Lowers Corn, Soybean Production and Yield - ProAg](https://feedsoft.ai/events/9896-usda-lowers-corn-soybean-production-and-yield-proag.md) | +4.1% | +8.2% |
| SBM | 2024-03-08 | [March WASDE: USDA Steps Down Brazil Soybean Production](https://feedsoft.ai/events/31129-march-wasde-usda-steps-down-brazil-soybean-production.md) | -1.4% | -3.2% |
| SBM | 2024-05-10 | [USDA Lowers Estimates for Brazil Corn and Soy Production](https://feedsoft.ai/events/30215-usda-lowers-estimates-for-brazil-corn-and-soy-production.md) | -0.6% | -2.8% |
| SBM | 2022-02-11 | [Conab Lowers Brazil's 2021/22 Soybean Production 15 Million Tons](https://feedsoft.ai/events/13741-conab-lowers-brazil-s-2021-22-soybean-production-15-million-tons.md) | -1.4% | +10.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2024/03/08/usda-releases-march-wasde-crop

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