# USDA Projects Higher Soybean Yield, Lower Demand

> USDA's August WASDE put 2022/23 US corn ending stocks at 1.388 billion bushels, below July's 1.470 billion, and soybean ending stocks at 245 million bushels, above the trade's 227 million. Wheat ending stocks were cut to 610 million bushels from 639 million in July.

- Date: 2022-08-12 · published 2022-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/39955-usda-projects-higher-soybean-yield-lower-demand
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower corn and wheat carryout tightens old-crop balance sheets and supports prices, while the higher soybean stocks add modest bearish pressure on soybeans and soy meal.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-08-15 | 5 | -12.4% | -3.7 | August WASDE put soybean ending stocks above trade expectations with lower demand, bearish for soybean meal prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-09-12 | [USDA Lowers Corn and Soybean Yields](https://feedsoft.ai/events/39551-usda-lowers-corn-and-soybean-yields.md) | -1.1% | -1.5% |
| CORN | 2023-08-11 | [USDA Lowers Corn and Soybean Yields and Production](https://feedsoft.ai/events/12250-usda-lowers-corn-and-soybean-yields-and-production.md) | -1.6% | -2.3% |
| CORN | 2021-01-13 | [USDA Lowers Soybean Stocks and Corn Yield](https://feedsoft.ai/events/49088-usda-lowers-soybean-stocks-and-corn-yield.md) | +2.0% | +7.5% |
| CORN | 2022-10-12 | [USDA Lowers Corn, Soybean Yields Slightly](https://feedsoft.ai/events/39176-usda-lowers-corn-soybean-yields-slightly.md) | +1.9% | -1.0% |
| CORN | 2017-05-10 | [USDA lowers old crop corn, soybean stocks on good demand - Brownfield Ag News](https://feedsoft.ai/events/70887-usda-lowers-old-crop-corn-soybean-stocks-on-good-demand-brownfield-ag-news.md) | +0.3% | +2.4% |
| SOY | 2022-11-09 | [USDA Projects Higher Corn and Soybean Supply](https://feedsoft.ai/events/38641-usda-projects-higher-corn-and-soybean-supply.md) | +0.9% | +1.9% |
| SOY | 2024-06-12 | [USDA Projects Slightly Lower Brazilian Soybean Production](https://feedsoft.ai/events/29690-usda-projects-slightly-lower-brazilian-soybean-production.md) | -0.3% | -3.0% |
| SOY | 2018-09-12 | [USDA Pushes Corn, Soybean Yield Estimates Higher](https://feedsoft.ai/events/62988-usda-pushes-corn-soybean-yield-estimates-higher.md) | -0.8% | +5.2% |

## Sources

- agriculture.com: https://www.agriculture.com/news/business/usda-projects-higher-soybean-yield-lower-demand

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