# Report raises soy yields, deflates prices

> The USDA's May WASDE projected a 4.51-billion-bushel U.S. soybean crop for 2023/24, up 5% from last year. Ending stocks are forecast at 335 million bushels, up 120 million, and the season-average price is put at $12.10 per bushel versus $14.20 in 2022/23.

- Date: 2023-05-18 · published 2023-05-18T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/35979-report-raises-soy-yields-deflates-prices
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A larger U.S. crop with higher ending stocks and lower forecast exports points to weaker soybean and product prices for 2023/24, as the USDA's lower price forecast reflects.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-07-18 | [Grain Supply and Demand report sends grain prices falling](https://feedsoft.ai/events/7417-grain-supply-and-demand-report-sends-grain-prices-falling.md) | -6.2% | -6.5% |
| SOY | 2023-01-30 | [soy price development market report \| Agriculture](https://feedsoft.ai/events/37811-soy-price-development-market-report-agriculture.md) | +1.5% | +0.6% |
| SOY | 2023-02-10 | [US soybean and oil prices decline w-o-w following WASDE report](https://feedsoft.ai/events/37421-us-soybean-and-oil-prices-decline-w-o-w-following-wasde-report.md) | +0.5% | -0.4% |
| SOY | 2024-01-12 | [Corn and Soybean Prices Tank After USDA Report Makes Surprising Revisions to Yield - AgWeb](https://feedsoft.ai/events/32065-corn-and-soybean-prices-tank-after-usda-report-makes-surprising-revisions-to.md) | -1.5% | -3.9% |
| SOY | 2024-06-13 | [The Latest WASDE Report Defies Expectations - ProAg](https://feedsoft.ai/events/29692-the-latest-wasde-report-defies-expectations-proag.md) | -1.9% | -3.6% |
| SBM | 2023-01-30 | [soy price development market report \| Agriculture](https://feedsoft.ai/events/37811-soy-price-development-market-report-agriculture.md) | +4.0% | +3.9% |
| SBM | 2023-02-10 | [US soybean and oil prices decline w-o-w following WASDE report](https://feedsoft.ai/events/37421-us-soybean-and-oil-prices-decline-w-o-w-following-wasde-report.md) | -0.3% | +0.4% |
| SBM | 2024-01-12 | [Corn and Soybean Prices Tank After USDA Report Makes Surprising Revisions to Yield - AgWeb](https://feedsoft.ai/events/32065-corn-and-soybean-prices-tank-after-usda-report-makes-surprising-revisions-to.md) | -0.1% | -3.3% |

## Sources

- iasoybeans.com: https://www.iasoybeans.com/newsroom/article/report-raises-soy-yields-deflates-prices

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