# US soybean and oil prices decline w-o-w following WASDE report

> USDA's February WASDE kept the US soybean crop at 116 million tonnes and cut domestic crush by 408,000 tonnes. It trimmed Argentina's crop 10% to 41 million tonnes, while Brazil stayed at a record 153 million. CBOT soybeans and soybean oil settled lower week-on-week, at 3.2% down for oil.

- Date: 2023-02-10 · published 2023-02-10T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/37421-us-soybean-and-oil-prices-decline-w-o-w-following-wasde-report
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower US crush and a record Brazilian crop weigh on soybean and oil prices, though the Argentine cut limits the downside. Soybean meal demand from crush cuts is also reduced.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-08-14 | [Soybean prices decline despite cuts to US crop – WASDE update](https://feedsoft.ai/events/5615-soybean-prices-decline-despite-cuts-to-us-crop-wasde-update.md) | -2.7% | -3.5% |
| SOY | 2026-10-09 | [MARKET UPDATE: Agriculture stocks (DE) slide as corn, soybean and wheat futures price decline following WASDE report; USDA lifts US yield and supply outlook \| Newsquawk](https://feedsoft.ai/events/17066-market-update-agriculture-stocks-de-slide-as-corn-soybean-and-wheat-futures.md) | -2.2% | -4.4% |
| SOY | 2021-10-12 | [WASDE Report Prints Bearish Soybean Data, Sends Market Reeling](https://feedsoft.ai/events/44486-wasde-report-prints-bearish-soybean-data-sends-market-reeling.md) | -0.5% | -4.1% |
| SOY | 2023-09-15 | [USDA report triggers corn and soybean price drop, wheat remai ...](https://feedsoft.ai/events/34044-usda-report-triggers-corn-and-soybean-price-drop-wheat-remai.md) | -3.7% | -4.0% |
| SOY | 2024-01-15 | [Bearish Surprises for Corn and Soybeans in Latest WASDE Report](https://feedsoft.ai/events/32062-bearish-surprises-for-corn-and-soybeans-in-latest-wasde-report.md) | +1.5% | -1.1% |
| SBO | 2026-10-21 | [Soybean Oil Prices Decline Amid Rising US Production and Crushing Slowdown; Indian Demand Bolsters Sunflower Oil Market \| Tridge Insights](https://feedsoft.ai/events/504-soybean-oil-prices-decline-amid-rising-us-production-and-crushing-slowdown.md) | +0.5% | — |
| SBO | 2025-01-10 | [January WASDE reduces 2024-’25 forecast for soybean oil use in biofuel production  \| Biodiesel Magazine](https://feedsoft.ai/events/15156-january-wasde-reduces-2024-25-forecast-for-soybean-oil-use-in-biofuel.md) | +7.6% | +9.6% |
| SBO | 2024-03-08 | [USDA maintains forecast for soybean oil use in biofuel production, reduces forecast for soybean oil prices \| Biomass Magazine](https://feedsoft.ai/events/31293-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-reduces.md) | +3.6% | +6.2% |

## Sources

- mintecglobal.com: https://www.mintecglobal.com/top-stories/us-soybean-and-oil-prices-decline-w-o-w-following-wasde-report

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