# USDA Releases Lower Ag Export Forecast for 2023

> USDA projects fiscal 2023 agricultural exports at $184.5 billion, down $5.5 billion from the November forecast. Corn exports were cut $1.9 billion to $16.6 billion, and soybean exports fell $800 million to $32 billion on lower US supplies and Brazilian competition.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37388-usda-releases-lower-ag-export-forecast-for-2023
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Lower export forecasts for corn and soybeans point to weaker US demand and more supply available domestically, which is bearish for prices. Feed buyers may see softer values for these grains, and sorghum exports were also reduced.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- SORGHUM: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-11-30 | [USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports - Farm Policy News](https://feedsoft.ai/events/38741-usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports-farm-policy-news.md) | -3.9% | +1.9% |
| CORN | 2023-05-12 | [USDA Releases May 2023 WASDE Report \| American Ag Network](https://feedsoft.ai/events/35889-usda-releases-may-2023-wasde-report-american-ag-network.md) | -8.7% | -8.7% |
| CORN | 2022-09-02 | [US 2023 agricultural exports forecast 1% under record 2022 - Fastmarkets](https://feedsoft.ai/events/39568-us-2023-agricultural-exports-forecast-1-under-record-2022-fastmarkets.md) | -0.6% | -1.6% |
| CORN | 2023-05-31 | [USDA lowers ag trade forecast for FY 2023 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/5571-usda-lowers-ag-trade-forecast-for-fy-2023-agri-pulse-communications-inc.md) | -1.8% | +0.1% |
| CORN | 2025-05-14 | [USDA forecasts lower wheat, corn, sorghum prices for 2025/26](https://feedsoft.ai/events/24718-usda-forecasts-lower-wheat-corn-sorghum-prices-for-2025-26.md) | +3.8% | +0.4% |
| SOY | 2022-11-30 | [USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports - Farm Policy News](https://feedsoft.ai/events/38741-usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports-farm-policy-news.md) | -0.3% | +3.2% |
| SOY | 2023-05-12 | [USDA Releases May 2023 WASDE Report \| American Ag Network](https://feedsoft.ai/events/35889-usda-releases-may-2023-wasde-report-american-ag-network.md) | -7.6% | -3.9% |
| SOY | 2024-12-10 | [USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report \| Feed & Grain](https://feedsoft.ai/events/26902-usda-forecasts-lower-us-wheat-stocks-raises-corn-exports-in-latest-wasde-report.md) | -0.8% | -0.3% |

## Sources

- pnwag.net: https://pnwag.net/usda-releases-lower-ag-export-forecast-for-2023/

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