# USDA lowers global oilseed production forecast due to plunging…

> The USDA cut its global oilseed production forecast by 7 million tonnes to 630 million tonnes in its March report. The reduction reflects lower Argentine soybean, sunflowerseed and Indian cottonseed crops, partly offset by higher Australian and Ukrainian rapeseed. Argentine soybean production was lowered to a 14-year low of 33 million tonnes, with crush at its lowest in over a decade.

- Date: 2023-03-20 · published 2023-03-20T12:00:00.000Z
- Category: report · region Argentina · magnitude high
- Page: https://feedsoft.ai/events/36974-usda-lowers-global-oilseed-production-forecast-due-to-plunging
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Cottonseed Meal](https://feedsoft.ai/c/CSM.md)

## Why it matters

Lower Argentine soybean supply cuts global soybean meal and vegetable oil availability, which supports protein meal and oil prices and raises feed costs for buyers.

## Read by commodity

- CSM: bullish ▲
- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- SUNMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-11-17 | [USDA lowers global oilseed production forecast, including soybeans, but quotes are falling](https://feedsoft.ai/events/22064-usda-lowers-global-oilseed-production-forecast-including-soybeans-but-quotes.md) | +1.1% | -3.7% |
| SOY | 2025-08-13 | [Global oilseeds production forecast lowered on multiple crop declines \| Feed & Grain](https://feedsoft.ai/events/23433-global-oilseeds-production-forecast-lowered-on-multiple-crop-declines-feed-and.md) | +0.1% | -0.6% |
| SOY | 2020-10-09 | [USDA Lowers Soybean Ending Stocks, Trims Production](https://feedsoft.ai/events/50595-usda-lowers-soybean-ending-stocks-trims-production.md) | +1.2% | +4.9% |
| SOY | 2025-01-14 | [US soybean production drops, global oilseed crush rises in 2024/25 \| Feed & Grain](https://feedsoft.ai/events/26590-us-soybean-production-drops-global-oilseed-crush-rises-in-2024-25-feed-and-grain.md) | +2.5% | +0.2% |
| SOY | 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) | +2.0% | -1.1% |
| SBM | 2022-12-20 | [USDA lowers 2022/23 global oilseed production forecast by 1M tonnes](https://feedsoft.ai/events/38366-usda-lowers-2022-23-global-oilseed-production-forecast-by-1m-tonnes.md) | +0.5% | +7.4% |
| SBM | 2025-08-13 | [Global oilseeds production forecast lowered on multiple crop declines \| Feed & Grain](https://feedsoft.ai/events/23433-global-oilseeds-production-forecast-lowered-on-multiple-crop-declines-feed-and.md) | +3.1% | +4.2% |
| SBM | 2023-04-26 | [USDA forecasts strong global soyabean trade but lower meal and oil…](https://feedsoft.ai/events/36486-usda-forecasts-strong-global-soyabean-trade-but-lower-meal-and-oil.md) | -1.9% | -7.0% |

## Sources

- ofimagazine.com: https://www.ofimagazine.com/news/usda-lowers-global-oilseed-production-forecast-due-to-plunging-argentine-soyabean-production

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