# USDA Lowers Brazilian Soybean Production, Increases Exports

> USDA cut Brazil's 2023-24 soybean production by 2 million metric tons to 161 million, while raising Brazil's exports by 2 million tons to 99.5 million. USDA also raised U.S. corn exports by 25 million bushels to 2.1 billion bushels. Overall U.S. ending stocks estimates were roughly neutral.

- Date: 2023-12-08 · published 2023-12-08T12:00:00.000Z
- Category: report · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/32631-usda-lowers-brazilian-soybean-production-increases-exports
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A smaller Brazilian crop is offset by higher export projections, so the net change to global soybean supply is small. Higher U.S. corn exports tighten the domestic balance slightly.

## Read by commodity

- SOY: neutral
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-11-14 | [USDA Lowers Corn and Soybean Production Estimates](https://feedsoft.ai/events/21885-usda-lowers-corn-and-soybean-production-estimates.md) | -0.8% | -4.9% |
| SOY | 2022-05-12 | [Corn, Soybean Production Numbers as Expected in May USDA Report](https://feedsoft.ai/events/41348-corn-soybean-production-numbers-as-expected-in-may-usda-report.md) | +0.8% | +7.2% |
| SOY | 2021-05-13 | [USDA increases soybean product ending stocks estimates - Brownfield Ag News](https://feedsoft.ai/events/47160-usda-increases-soybean-product-ending-stocks-estimates-brownfield-ag-news.md) | -7.4% | -7.0% |
| SOY | 2023-12-09 | [Basting: USDA's WASDE 'Surprised the Trade' with Increase in Brazilian Soybean Production for 2022-23 \| Hoosier Ag Today](https://feedsoft.ai/events/32627-basting-usda-s-wasde-surprised-the-trade-with-increase-in-brazilian-soybean.md) | +0.9% | -4.8% |
| SOY | 2018-10-19 | [Soybean oil production increased in September - McKeany-Flavell](https://feedsoft.ai/events/62629-soybean-oil-production-increased-in-september-mckeany-flavell.md) | -2.5% | +2.9% |
| CORN | 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) | -0.7% | -1.6% |
| CORN | 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) | +2.9% | +12.0% |
| CORN | 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) | +2.4% | +2.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/12/08/usda-releases-december-crop-wasde

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