# March 2021 WASDE: USDA unexpectedly raises Brazilian soy forecast

> USDA's March WASDE unexpectedly raised Brazil's 2019/20 soybean production by 36.7 million bushels and lifted Paraguay's beginning stocks. Brazil's corn estimate was left unchanged despite most of the crop still being unplanted. Corn fell about 1% and soybeans slipped half a percent.

- Date: 2021-03-09 · published 2021-03-09T12:00:00.000Z
- Category: report · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/48069-march-2021-wasde-usda-unexpectedly-raises-brazilian-soy-forecast
- Commodities: [Corn](https://feedsoft.ai/c/CORN.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

Higher South American supplies ease tightness in global soybean stocks, pressuring soy and corn prices, though 2020/21 supplies remain the tightest in twelve years.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 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) | -0.3% | -3.1% |
| CORN | 2026-01-12 | [Corn Drops Most Since 2023 as USDA Unexpectedly Raises US Yield - Bloomberg](https://feedsoft.ai/events/7089-corn-drops-most-since-2023-as-usda-unexpectedly-raises-us-yield-bloomberg.md) | -2.8% | -1.7% |
| CORN | 2026-05-15 | [Brazil raises forecast for record harvest](https://feedsoft.ai/events/13434-brazil-raises-forecast-for-record-harvest.md) | +1.2% | -7.4% |
| CORN | 2025-07-11 | [Brazil raises forecast for record grain harvest](https://feedsoft.ai/events/13484-brazil-raises-forecast-for-record-grain-harvest.md) | -0.7% | -1.5% |
| CORN | 2021-09-10 | [USDA raises corn and soy yield forecasts, pushing down price expectations \| 2021-09-10  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/45108-usda-raises-corn-and-soy-yield-forecasts-pushing-down-price-expectations-2021.md) | +1.1% | -1.9% |
| SOY | 2026-05-15 | [Brazil raises forecast for record harvest](https://feedsoft.ai/events/13434-brazil-raises-forecast-for-record-harvest.md) | +1.7% | -5.2% |
| SOY | 2025-07-11 | [Brazil raises forecast for record grain harvest](https://feedsoft.ai/events/13484-brazil-raises-forecast-for-record-grain-harvest.md) | +0.9% | -4.0% |
| SOY | 2024-12-10 | [USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report \| Feed & Grain](https://feedsoft.ai/events/26902-usda-forecasts-lower-us-wheat-stocks-raises-corn-exports-in-latest-wasde-report.md) | -0.8% | -0.3% |

## Sources

- farmprogress.com: https://www.farmprogress.com/business/march-2021-wasde-usda-unexpectedly-raises-brazilian-soy-forecast
- iasoybeans.com: https://www.iasoybeans.com/newsroom/article/march-2021-wasde

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