# USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports - Farm Policy News

> USDA's November Outlook for U.S. Agricultural Trade cut FY2023 agricultural export forecasts by $3.5 billion to $190 billion. Soybean exports were lowered by $2.4 billion on smaller production and South American competition, and corn exports were cut by $600 million.

- Date: 2022-11-30 · published 2022-11-30T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/38741-usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports-farm-policy-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Lower projected US soybean and corn export volumes point to weaker export demand and more supply available domestically, which is bearish for those futures, though high US corn prices relative to competitors limit the impact.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-09-06 | [U.S. Agricultural Exports Forecast at $172.0 Billion in Fiscal Year 2024 - Farm Policy News](https://feedsoft.ai/events/14815-u-s-agricultural-exports-forecast-at-172-0-billion-in-fiscal-year-2024-farm.md) | -1.3% | -5.7% |
| SOY | 2023-02-27 | [USDA Releases Lower Ag Export Forecast for 2023](https://feedsoft.ai/events/37388-usda-releases-lower-ag-export-forecast-for-2023.md) | +0.1% | -6.6% |
| SOY | 2019-03-18 | [USDA Agricultural Projections to 2028- Focus on Corn, Soybeans - Farm Policy News](https://feedsoft.ai/events/60114-usda-agricultural-projections-to-2028-focus-on-corn-soybeans-farm-policy-news.md) | -0.6% | -1.5% |
| SOY | 2018-03-11 | [USDA report perplexes - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/65959-usda-report-perplexes-agweek-1-source-for-agriculture-news-farming-markets.md) | +2.0% | +1.7% |
| SOY | 2019-10-10 | [AgroPages-Bad to worse: USDA projects lower Argentina’s soybean exports due to a weak Chinese demand-Agricultural news](https://feedsoft.ai/events/56412-agropages-bad-to-worse-usda-projects-lower-argentina-s-soybean-exports-due-to-a.md) | +0.5% | -0.9% |
| CORN | 2021-08-29 | [USDA Forecasts Record Farm Exports in FY 2021 and FY 2022 \| Farm Policy News \| Illinois](https://feedsoft.ai/events/45418-usda-forecasts-record-farm-exports-in-fy-2021-and-fy-2022-farm-policy-news.md) | -6.1% | -11.6% |
| 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 | 2023-02-27 | [USDA Releases Lower Ag Export Forecast for 2023](https://feedsoft.ai/events/37388-usda-releases-lower-ag-export-forecast-for-2023.md) | -1.3% | -1.8% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2022/11/usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports/

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