# Acreage Surprise Boosts Old-Crop Prices - farmdoc daily

> USDA's January WASDE made significant cuts to 2022 U.S. corn and soybean acreage and yield, reducing the estimated crop size. Prices for both commodities rose despite lower old-crop export expectations.

- Date: 2023-01-14 · published 2023-01-14T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37731-acreage-surprise-boosts-old-crop-prices-farmdoc-daily
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Reduced old-crop supply lifts prices, and attention now shifts to 2023 acreage and South American crops that will fill global gaps.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-07-06 | [USDA Surprises Drive Corn Prices Higher - farmdoc daily](https://feedsoft.ai/events/52152-usda-surprises-drive-corn-prices-higher-farmdoc-daily.md) | -0.8% | -5.0% |
| CORN | 2023-03-22 | [2022 County Crop Yields - farmdoc daily](https://feedsoft.ai/events/13288-2022-county-crop-yields-farmdoc-daily.md) | +1.7% | +1.3% |
| CORN | 2023-10-18 | [Brazil Expected to Expand Soybean Acreage and Reduce Corn Acreage - farmdoc daily](https://feedsoft.ai/events/13622-brazil-expected-to-expand-soybean-acreage-and-reduce-corn-acreage-farmdoc-daily.md) | +1.9% | -1.3% |
| CORN | 2024-07-16 | [Demand draws surprise drop in old crop stocks – AgriNews](https://feedsoft.ai/events/7101-demand-draws-surprise-drop-in-old-crop-stocks-agrinews.md) | +3.0% | +0.7% |
| CORN | 2020-02-07 | [Rise in US Corn Acres Could Boost Domestic Wholesale Ammonia, Urea Prices](https://feedsoft.ai/events/6015-rise-in-us-corn-acres-could-boost-domestic-wholesale-ammonia-urea-prices.md) | -0.7% | +0.6% |
| SOY | 2021-06-30 | [Corn, soy extend rally after USDA acreage surprise \| Financial Post](https://feedsoft.ai/events/46087-corn-soy-extend-rally-after-usda-acreage-surprise-financial-post.md) | +2.0% | +5.3% |
| SOY | 2021-04-01 | [UK feed wheat price rises after surprise in global market - Farmers Weekly](https://feedsoft.ai/events/47552-uk-feed-wheat-price-rises-after-surprise-in-global-market-farmers-weekly.md) | -1.5% | +7.4% |
| SOY | 2021-08-17 | [Corn prices rise again after USDA cuts crop estimates \| Feed Strategy](https://feedsoft.ai/events/45597-corn-prices-rise-again-after-usda-cuts-crop-estimates-feed-strategy.md) | -6.0% | -7.2% |

## Sources

- origin.farmdocdaily.illinois.edu: https://origin.farmdocdaily.illinois.edu/2023/01/wasde-recap-acreage-surprise-boosts-old-crop-prices.html

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