# Soybean Outlook Update Following USDA's June WASDE Report - Center for Commercial Agriculture

> Purdue economists reviewed the soybean outlook after USDA's June WASDE, focusing on US crop condition ratings and dry weather. They also discussed soybean oil demand for renewable fuels, export competition from South America, and Ohio River basis.

- Date: 2023-06-16 · published 2023-06-16T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/35543-soybean-outlook-update-following-usda-s-june-wasde-report-center-for-commercial
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Dry weather risk to yields and shifting demand from biofuels both affect the balance of soybean supply and demand, which keeps soybean price volatility elevated.

## Read by commodity

- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-03-06 | [Outlook for the 2018 growing season \| Climate and Agriculture in the Southeast](https://feedsoft.ai/events/65927-outlook-for-the-2018-growing-season-climate-and-agriculture-in-the-southeast.md) | -3.1% | -2.7% |
| SOY | 2026-08-01 | [El Niño 2026: Converging Pressures on Vegetable Oil Markets - Center for Commercial Agriculture](https://feedsoft.ai/events/18245-el-nino-2026-converging-pressures-on-vegetable-oil-markets-center-for.md) | -1.3% | +8.9% |
| SOY | 2021-07-12 | [July USDA WASDE: Wheat Takes Leadership Following Bullish Report](https://feedsoft.ai/events/46004-july-usda-wasde-wheat-takes-leadership-following-bullish-report.md) | +3.6% | +1.3% |
| SOY | 2022-07-15 | [Weather and recession fears trump USDA report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5593-weather-and-recession-fears-trump-usda-report-agweek-1-source-for-agriculture.md) | -11.9% | +6.2% |
| SOY | 2019-03-13 | [Climate outlook for 2019 growing season in Georgia \| Viticulture](https://feedsoft.ai/events/60013-climate-outlook-for-2019-growing-season-in-georgia-viticulture.md) | +2.2% | +1.6% |

## Sources

- ag.purdue.edu: https://ag.purdue.edu/commercialag/home/resource/2023/06/soybean-outlook-update-following-usdas-june-wasde-report/

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