◂ Event Timeline

Feb 24, 2022REPORTUS

USDA sees bigger soy production, exports and crush for 2022-23

USDA's Outlook Forum raised its fiscal 2022 US agricultural export forecast to a record $183.5 billion and projected 92 million acres of corn, 88 million of soybeans and 48 million of wheat for 2022. Prices were forecast at $5.00 per bushel for corn, $12.75 for soybeans and $6.80 for wheat, all lower than the prior year, while the department acknowledged uncertainty from Russia's invasion of Ukraine.

WHY IT MATTERS

The projected larger soybean crush and exports point to firm soymeal demand, while lower projected 2022 prices signal the market expects more supply than the 2021 crop year.

AFFECTSCorn◆Soybeans◆Wheat (SRW)◆Soybean Meal▲

SOURCE
agri-pulse.comPhilip Brasher, Bill TomsonFeb 24, 2022

Price reaction & history

Corn◆neutralSO FAR1d +1.0%5d +6.5%20d +12.3%

After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.

Jun 11, 2020June USDA report on par with trade expectations | 2020-06-11 | Agri-Pulse Communications, Inc.+1.0%
Feb 14, 2024Ethanol plants saw strong profits in 2023 | Agri-Pulse Communications, Inc.+0.5%
Mar 9, 2021Corn, soy, wheat ending stocks hold steady for March | 2021-03-09 | Agri-Pulse Communications, Inc.-10.3%
Nov 8, 2019Nation's corn crop is shrinking | 2019-11-08 | Agri-Pulse Communications, Inc.+0.0%
Aug 30, 2019Trade mitigation payments boost farm income | 2019-08-30 | Agri-Pulse Communications, Inc.-2.4%

Soybeans◆neutralSO FAR1d -0.8%5d +0.1%20d +2.6%

After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.

Feb 20, 2020USDA: Mixed 2020 farm outlook on small export increase, record production | 2020-02-20 | Agri-Pulse Communications, Inc.-1.8%
Aug 12, 2019USDA trims corn, soybean acres off June estimates | 2019-08-12 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.7%
Dec 9, 2022USDA’s WASDE leaves most grain and oilseed estimates unchanged | Agri-Pulse Communications, Inc.-0.9%
May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+4.9%
Aug 30, 2019Trade mitigation payments boost farm income | 2019-08-30 | Agri-Pulse Communications, Inc.-1.3%

Wheat (SRW)◆neutralSO FAR1d +1.0%5d +6.8%20d +25.3%

After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.

Mar 9, 2021Corn, soy, wheat ending stocks hold steady for March | 2021-03-09 | Agri-Pulse Communications, Inc.-0.2%
Mar 11, 2020‘Benign’ WASDE makes minimal changes in numbers | 2020-03-10 | Agri-Pulse Communications, Inc.-4.9%
Aug 12, 2025USDA Ups 2025 Corn Production More Than Expected in Latest Crop Production Report+2.8%
Jan 26, 2024USDA attache sees China 2023/24 corn imports at 20 mln tons-0.3%
Dec 10, 2019USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged+2.5%

Soybean Meal▲bullishSO FAR1d -1.0%5d -1.7%20d +4.3%

After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.

Apr 9, 2026USDA raises price estimates for several commodities | Agri-Pulse Communications, Inc.+5.8%
Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+0.7%
Oct 25, 2023U.S. soybean meal exports set record, expected to go higher next year | Agri-Pulse Communications, Inc.-0.1%
Aug 12, 2021USDA lowers corn, soybean yield estimates due to drought | 2021-08-12 | Agri-Pulse Communications, Inc.+0.4%
Jun 30, 2023More corn, less soybeans revealed in USDA crop acreage, grain stocks reports | Agri-Pulse Communications, Inc.+1.6%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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