# PF Report Reaction: Bearish reaction to USDA's barrage of January data - Pro Farmer

> Pro Farmer's January 12 report reaction described most USDA data as bearish versus expectations. Corn production was set at a record 15.342 billion bushels and soybeans at 4.165 billion bushels, both above trade estimates, while corn futures fell 11 to 15 cents and soybeans nearly 30 cents.

- Date: 2024-01-12 · published 2024-01-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/32066-pf-report-reaction-bearish-reaction-to-usda-s-barrage-of-january-data-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Production numbers above trade expectations confirm a heavier supply outlook, pressuring corn, soybean and meal values for feed buyers.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-06-30 | [PF Report Reaction: Acreage shocker from USDA - Pro Farmer](https://feedsoft.ai/events/35512-pf-report-reaction-acreage-shocker-from-usda-pro-farmer.md) | -2.3% | +1.5% |
| CORN | 2022-01-12 | [PF Report Reaction: USDA report data relatively mild for corn and soybeans - Pro Farmer](https://feedsoft.ai/events/13394-pf-report-reaction-usda-report-data-relatively-mild-for-corn-and-soybeans-pro.md) | -2.6% | +3.6% |
| CORN | 2026-01-16 | [USDA Responds to Farmer Frustration After January Report Delivers Major Surprises - Pro Farmer](https://feedsoft.ai/events/13026-usda-responds-to-farmer-frustration-after-january-report-delivers-major.md) | +0.7% | +2.2% |
| CORN | 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) | -0.4% | -0.7% |
| CORN | 2026-10-09 | [Report Reactions - Pro Farmer](https://feedsoft.ai/events/17068-report-reactions-pro-farmer.md) | -0.2% | -3.3% |
| SOY | 2024-04-11 | [PF Report Reaction: USDA's report data fails to provide bullish spark - Pro Farmer](https://feedsoft.ai/events/30676-pf-report-reaction-usda-s-report-data-fails-to-provide-bullish-spark-pro-farmer.md) | -1.3% | +4.1% |
| 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 | 2026-01-16 | [USDA Responds to Farmer Frustration After January Report Delivers Major Surprises - Pro Farmer](https://feedsoft.ai/events/13026-usda-responds-to-farmer-frustration-after-january-report-delivers-major.md) | +1.4% | +7.6% |

## Sources

- profarmer.com: https://www.profarmer.com/news/agriculture-news/pf-report-reaction-bearish-reaction-usdas-barrage-january-data

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