# USDA Predicts Record Corn Production

> USDA raised 2023-24 U.S. corn production by 170 million bushels to 15.234 billion, a record that surpasses the 2016 crop. Soybean production was raised 25 million bushels to 4.129 billion, and corn ending stocks rose 45 million bushels to 2.156 billion.

- Date: 2023-11-09 · published 2023-11-09T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/33113-usda-predicts-record-corn-production
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The surprise corn yield lifts supplies well above trade estimates, which weighs on corn prices and reduces the cost outlook for feed buyers. Slightly larger soybean supplies add modest downside pressure on meal and oil.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-05-12 | [USDA Predicts Record Corn, Soybean Crops](https://feedsoft.ai/events/5016-usda-predicts-record-corn-soybean-crops.md) | -8.7% | -8.7% |
| CORN | 2024-10-11 | [USDA Boosts Corn Production Estimate](https://feedsoft.ai/events/27801-usda-boosts-corn-production-estimate.md) | -1.8% | +0.9% |
| CORN | 2020-08-12 | [USDA Expects Record Corn Crop](https://feedsoft.ai/events/51548-usda-expects-record-corn-crop.md) | +3.8% | +8.3% |
| CORN | 2017-01-12 | [Corn and Soybean Production Up in 2016, USDA Reports](https://feedsoft.ai/events/72836-corn-and-soybean-production-up-in-2016-usda-reports.md) | +0.1% | +1.9% |
| CORN | 2023-08-01 | [USDA maintains record corn production forecasts despite Midwest drought](https://feedsoft.ai/events/13267-usda-maintains-record-corn-production-forecasts-despite-midwest-drought.md) | -2.3% | -2.8% |
| SOY | 2023-05-12 | [USDA Predicts Record Corn, Soybean Crops](https://feedsoft.ai/events/5016-usda-predicts-record-corn-soybean-crops.md) | -7.6% | -3.9% |
| SOY | 2020-08-12 | [USDA Expects Record Corn Crop](https://feedsoft.ai/events/51548-usda-expects-record-corn-crop.md) | +3.9% | +11.6% |
| SOY | 2017-01-12 | [Corn and Soybean Production Up in 2016, USDA Reports](https://feedsoft.ai/events/72836-corn-and-soybean-production-up-in-2016-usda-reports.md) | +6.7% | +4.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/11/09/usda-releases-november-crop-wasde

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