# USDA Forecasts Record Farm Exports in FY 2021 and FY 2022 | Farm Policy News | Illinois

> USDA's August Outlook for U.S. Agricultural Trade projects FY2022 farm exports at $177.5 billion and raises FY2021 to $173.5 billion. Soybean exports are forecast at a record $32.3 billion, while grain and feed exports are cut $1.1 billion on lower corn prospects.

- Date: 2021-08-29 · published 2021-08-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/45418-usda-forecasts-record-farm-exports-in-fy-2021-and-fy-2022-farm-policy-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The projected lower corn export prospects are bearish for corn demand, while the record soybean export forecast supports soybean prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-04-07 | [2020 U.S. Ag Exports Second Highest on Record, Led by Soybeans, Corn and Pork to China \| Farm Policy News \| Illinois](https://feedsoft.ai/events/47452-2020-u-s-ag-exports-second-highest-on-record-led-by-soybeans-corn-and-pork-to.md) | -2.1% | +11.2% |
| SOY | 2023-08-13 | [FAS: “2022/23 China Soybean Imports Raised to Record High” \| Farm Policy News \| Illinois](https://feedsoft.ai/events/14820-fas-2022-23-china-soybean-imports-raised-to-record-high-farm-policy-news.md) | -2.7% | -3.5% |
| SOY | 2021-05-27 | [U.S. Farm Exports Forecast at 8% Above 2014's Record](https://feedsoft.ai/events/46958-u-s-farm-exports-forecast-at-8-above-2014-s-record.md) | +3.0% | -8.8% |
| SOY | 2018-02-08 | [2018 U.S. Farm Income Forecast Released - Farm Policy News](https://feedsoft.ai/events/66480-2018-u-s-farm-income-forecast-released-farm-policy-news.md) | +3.5% | +7.2% |
| SOY | 2017-10-09 | [U.S. Agricultural Exports- Data Update from USDA - Farm Policy News](https://feedsoft.ai/events/68329-u-s-agricultural-exports-data-update-from-usda-farm-policy-news.md) | +2.9% | +0.5% |
| CORN | 2022-11-30 | [USDA Lowers FY 2023 Forecast for U.S. Agricultural Exports - Farm Policy News](https://feedsoft.ai/events/38741-usda-lowers-fy-2023-forecast-for-u-s-agricultural-exports-farm-policy-news.md) | -3.9% | +1.9% |
| CORN | 2018-02-08 | [2018 U.S. Farm Income Forecast Released - Farm Policy News](https://feedsoft.ai/events/66480-2018-u-s-farm-income-forecast-released-farm-policy-news.md) | +0.2% | +2.3% |
| CORN | 2020-05-12 | [USDA forecasts record corn production, jump in exports \| Profitability \| farmweeknow.com](https://feedsoft.ai/events/52965-usda-forecasts-record-corn-production-jump-in-exports-profitability-farmweeknow.md) | +0.6% | +4.2% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2021/08/usda-forecasts-record-farm-exports-in-fy-2021-and-fy-2022/

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