# US soybean production cut in surprise move – WASDE 10.11.2021 - UkrAgroConsult

> USDA's November WASDE lowered US soybean production due to lower yields, despite raising corn production by 1.1 Mt. Russian wheat production was raised to 74.5 Mt, while EU wheat was cut by 1 Mt to 138.4 Mt, and global wheat ending stocks were reduced.

- Date: 2021-11-09 · published 2021-11-09T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/44007-us-soybean-production-cut-in-surprise-move-wasde-10-11-2021-ukragroconsult
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The soybean production cut is supportive for soy complex prices. Lower EU wheat output and reduced global wheat stocks tighten wheat supply, although the Russian increase partly offsets this.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼
- SOY: bullish ▲
- WHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2021-11-09 | 1 | +2.5% | 3.3 | The same-day WASDE cut US soybean production against expectations of an increase, tightening supply and boosting the soy complex including meal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-11-06 | [India’s rice production on the rise \| 2020-11-06  \| World Grain](https://feedsoft.ai/events/50116-india-s-rice-production-on-the-rise-2020-11-06-world-grain.md) | +0.0% | -6.3% |
| WHEAT | 2024-11-08 | [USDA Surprisingly Lowers Corn and Soybean Yield and Ending Stocks in WASDE - AgWeb](https://feedsoft.ai/events/13135-usda-surprisingly-lowers-corn-and-soybean-yield-and-ending-stocks-in-wasde-agweb.md) | -1.6% | -1.8% |
| WHEAT | 2026-03-10 | [USDA Releases March Crop Production, WASDE Reports](https://feedsoft.ai/events/20107-usda-releases-march-crop-production-wasde-reports.md) | -1.3% | -1.1% |
| WHEAT | 2019-12-10 | [USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged](https://feedsoft.ai/events/55512-usda-leaves-corn-and-soybean-production-supply-and-demand-unchanged.md) | +2.5% | +3.5% |
| WHEAT | 2021-09-14 | [Black Sea wheat balance left unchanged 14.09.2021 - UkrAgroConsult](https://feedsoft.ai/events/44924-black-sea-wheat-balance-left-unchanged-14-09-2021-ukragroconsult.md) | -3.3% | +4.8% |
| SOY | 2021-11-10 | [USDA maintains forecast for soybean oil use in biofuel 10.11.2021 - UkrAgroConsult](https://feedsoft.ai/events/15437-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-10-11-2021-ukragroconsult.md) | +4.3% | +5.1% |
| SOY | 2025-02-14 | [WASDE Shows Decrease in South American Corn and Soybean Production for 2024/2025](https://feedsoft.ai/events/25997-wasde-shows-decrease-in-south-american-corn-and-soybean-production-for-2024-2025.md) | +0.9% | -3.0% |
| SOY | 2024-03-08 | [March WASDE: USDA Steps Down Brazil Soybean Production](https://feedsoft.ai/events/31129-march-wasde-usda-steps-down-brazil-soybean-production.md) | +2.1% | +2.4% |

## Sources

- krishijagran.com: https://krishijagran.com/commodity-news/usda-s-latest-supply-demand-summary-for-cotton-soy-complex/
- ukragroconsult.com: https://ukragroconsult.com/en/news/us-soybean-production-cut-in-surprise-move-wasde/
- bloomberg.com: https://www.bloomberg.com/news/articles/2021-11-09/u-s-soybean-crop-is-smaller-than-expected-sending-up-prices

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