# USDA Predicts Record Corn, Soybean Crops

> USDA's May 12, 2023 WASDE projected a record U.S. corn crop of 15.265 billion bushels and a record soybean crop of 4.51 billion bushels. Projected 2023-24 ending stocks are 2.222 billion bushels for corn and 335 million bushels for soybeans. Analysts called the U.S. new-crop stocks bearish for corn and soybeans but bullish for wheat.

- Date: 2023-05-12 · published 2023-05-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/5016-usda-predicts-record-corn-soybean-crops
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Record production and large ending stocks point to ample feed grain and soymeal supplies, supporting lower corn and soybean prices while wheat sees some support.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2023-05-14 | 1 | -3.9% | -5.7 | USDA projected a record 15.265 billion bushel US corn crop and 2.222 billion bushels of ending stocks, a bearish supply outlook that pressured futures. |
| CORN | 2023-05-18 | 5 | -8.8% | -3.2 | USDA projected a record US corn crop of 15.265 billion bushels and bearish stocks, reinforcing the supply-driven price drop. |
| SOY | 2023-05-18 | 5 | -8.9% | -2.8 | Record projected US soybean crop of 4.51 billion bushels and bearish new-crop stocks raised supply expectations and pressured futures. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-08-12 | [USDA Forecasts Record Soybean Crop](https://feedsoft.ai/events/28713-usda-forecasts-record-soybean-crop.md) | -1.6% | +1.4% |
| CORN | 2023-11-09 | [USDA Predicts Record Corn Production](https://feedsoft.ai/events/33113-usda-predicts-record-corn-production.md) | -1.5% | -1.0% |
| CORN | 2016-08-15 | [USDA adjusts forecasts based on record corn, soybean crops](https://feedsoft.ai/events/9949-usda-adjusts-forecasts-based-on-record-corn-soybean-crops.md) | +2.3% | -0.6% |
| CORN | 2020-08-12 | [USDA Expects Record Corn Crop](https://feedsoft.ai/events/51548-usda-expects-record-corn-crop.md) | +3.8% | +8.3% |
| CORN | 2025-02-27 | [USDA Forecasts Record Corn Crop, Larger Soybean Crop for 2025-26](https://feedsoft.ai/events/13114-usda-forecasts-record-corn-crop-larger-soybean-crop-for-2025-26.md) | -5.3% | -1.0% |
| SOY | 2016-09-12 | [USDA Still Sees Record Corn, Soybean Crops](https://feedsoft.ai/events/10185-usda-still-sees-record-corn-soybean-crops.md) | -3.1% | -4.1% |
| SOY | 2018-11-08 | [USDA cuts corn, soybean crops](https://feedsoft.ai/events/61984-usda-cuts-corn-soybean-crops.md) | +0.3% | +5.6% |
| SOY | 2024-08-12 | [USDA Forecasts Record Soybean Crop](https://feedsoft.ai/events/28713-usda-forecasts-record-soybean-crop.md) | -8.7% | -2.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/05/12/usda-releases-february-crop-wasde

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