# Agribusiness News March 2023 - Cereals and Oilseeds | Helping farmers in Scotland

> The Scottish agribusiness outlook notes world wheat prices under pressure from a large Russian export surplus, while Brazil's record soya and maize harvests weigh on feed grain and oilseed values. USDA's first 2023 estimates point to larger US wheat and corn areas, with high interest rates favouring soybeans over maize.

- Date: 2023-02-28 · published 2023-02-28T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/37394-agribusiness-news-march-2023-cereals-and-oilseeds-helping-farmers-in-scotland
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Heavy South American supply and large Russian wheat exports keep feed grain prices under pressure, while US acreage shifts may tighten the corn balance later.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-02-29 | [Upper Midwest producers see solid crop yields in 2023 - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13207-upper-midwest-producers-see-solid-crop-yields-in-2023-agweek-1-source-for.md) | +3.7% | +3.8% |
| CORN | 2016-11-09 | [Farming News - WASDE latest global stocks of wheat and oilseed increase](https://feedsoft.ai/events/73822-farming-news-wasde-latest-global-stocks-of-wheat-and-oilseed-increase.md) | -6.6% | -4.5% |
| CORN | 2023-09-08 | [Farmers in Rio Grande do Sul Hoping for a Better 2023/24](https://feedsoft.ai/events/13626-farmers-in-rio-grande-do-sul-hoping-for-a-better-2023-24.md) | -1.3% | -5.3% |
| CORN | 2018-02-23 | [Iowa records second largest corn, soybean crop in 2017 \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/66349-iowa-records-second-largest-corn-soybean-crop-in-2017-iowa-agribusiness-radio.md) | +1.9% | +2.9% |
| CORN | 2023-05-23 | [USDA forecasts record-large corn, soy production in 2023 \| Food Business News](https://feedsoft.ai/events/13277-usda-forecasts-record-large-corn-soy-production-in-2023-food-business-news.md) | -1.8% | +0.2% |
| SOY | 2024-02-29 | [Upper Midwest producers see solid crop yields in 2023 - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13207-upper-midwest-producers-see-solid-crop-yields-in-2023-agweek-1-source-for.md) | +0.6% | +5.2% |
| SOY | 2023-09-08 | [Farmers in Rio Grande do Sul Hoping for a Better 2023/24](https://feedsoft.ai/events/13626-farmers-in-rio-grande-do-sul-hoping-for-a-better-2023-24.md) | -0.1% | -4.8% |
| SOY | 2019-07-15 | [NOPA crush numbers don?t give any help to the markets \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/58162-nopa-crush-numbers-don-t-give-any-help-to-the-markets-iowa-agribusiness-radio.md) | -0.6% | -3.6% |

## Sources

- fas.scot: https://www.fas.scot/article/agribusiness-news-march-2023-cereals-and-oilseeds/

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