# U.S. grains: Soy soars after USDA slashes plantings estimate - Grainews

> USDA's June 30 Acreage and Grain Stocks reports showed US soybean plantings at 83.5 million acres, four million below March intentions and below the lowest analyst estimate. June 1 soybean stocks of 796 million bushels were 18% lower than a year earlier and below most trade expectations. Corn futures fell on larger-than-expected corn acreage.

- Date: 2023-07-01 · published 2023-07-01T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/35069-u-s-grains-soy-soars-after-usda-slashes-plantings-estimate-grainews
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A sharply smaller US soybean crop tightens new-crop supplies and lifts soybean, meal and oil prices, while bigger corn acreage pressures corn values.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2023-07-04 | 5 | +10.1% | 3.2 | The June 30 USDA Acreage and Grain Stocks reports showed soybean plantings far below expectations and lower stocks, which drove a supply-shock rally in soybeans and soyoil within the 5-day window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-06-12 | [U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews](https://feedsoft.ai/events/64555-u-s-grains-wheat-surges-after-usda-cuts-russian-output-estimate-grainews.md) | -4.7% | -10.6% |
| SOY | 2020-11-17 | [The WASDE Slashes Global Grains Stock Estimates \| CZ app](https://feedsoft.ai/events/50094-the-wasde-slashes-global-grains-stock-estimates-cz-app.md) | +3.3% | +2.7% |
| SOY | 2020-11-10 | [Soy futures surge to new four-year high as USDA slashes inventory estimates \| Reuters](https://feedsoft.ai/events/12422-soy-futures-surge-to-new-four-year-high-as-usda-slashes-inventory-estimates.md) | +4.4% | +3.7% |
| SOY | 2026-04-10 | [USDA Raises Wheat, Corn and Soy Price Estimates - Farm Policy News](https://feedsoft.ai/events/19746-usda-raises-wheat-corn-and-soy-price-estimates-farm-policy-news.md) | -0.1% | +1.0% |
| SOY | 2021-03-09 | [U.S. grains: Wheat and soy climb, corn sags after USDA data - Manitoba Co-operator](https://feedsoft.ai/events/48067-u-s-grains-wheat-and-soy-climb-corn-sags-after-usda-data-manitoba-co-operator.md) | -1.3% | -1.3% |
| SBM | 2026-04-10 | [USDA Raises Wheat, Corn and Soy Price Estimates - Farm Policy News](https://feedsoft.ai/events/19746-usda-raises-wheat-corn-and-soy-price-estimates-farm-policy-news.md) | +4.4% | +2.0% |
| SBM | 2018-09-12 | [USDA Pushes Corn, Soybean Yield Estimates Higher](https://feedsoft.ai/events/62988-usda-pushes-corn-soybean-yield-estimates-higher.md) | -4.4% | -0.2% |
| SBM | 2017-01-13 | [U.S. grains: Soybeans extend rally - Grainews](https://feedsoft.ai/events/11026-u-s-grains-soybeans-extend-rally-grainews.md) | +7.6% | +5.5% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-soy-soars-after-usda-slashes-plantings-estimate/

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