# Soybeans mostly up, wheat down after USDA numbers - Brownfield Ag News

> On October 12, 2022, USDA lowered US soybean production and yield estimates slightly while keeping new-crop ending stocks at 200 million bushels. USDA raised China's 2022/23 import forecast to 98 million tonnes, and China bought 526,000 tonnes of US beans. Wheat fell and corn was mixed after the report.

- Date: 2022-10-12 · published 2022-10-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/5090-soybeans-mostly-up-wheat-down-after-usda-numbers-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A tight US soybean balance and renewed Chinese buying support soybean and meal prices, though COVID lockdowns in China add demand uncertainty. Wheat weakness reflects a bearish reaction to the report.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-04-11 | [Soybeans up, corn, wheat down after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/36347-soybeans-up-corn-wheat-down-after-usda-numbers-brownfield-ag-news.md) | +2.0% | -1.2% |
| SOY | 2020-09-30 | [Big gains in corn, soybeans, wheat after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8791-big-gains-in-corn-soybeans-wheat-after-usda-numbers-brownfield-ag-news.md) | +5.1% | +9.0% |
| SOY | 2017-02-08 | [Soybeans, corn, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8600-soybeans-corn-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | +0.2% | -3.0% |
| SOY | 2021-01-12 | [USDA numbers send corn, soybeans, wheat higher - Brownfield Ag News](https://feedsoft.ai/events/49092-usda-numbers-send-corn-soybeans-wheat-higher-brownfield-ag-news.md) | +0.8% | +2.0% |
| SOY | 2017-01-12 | [USDA numbers support soybeans - Brownfield Ag News](https://feedsoft.ai/events/11023-usda-numbers-support-soybeans-brownfield-ag-news.md) | +6.7% | +4.7% |
| SBM | 2023-04-11 | [Soybeans up, corn, wheat down after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/36347-soybeans-up-corn-wheat-down-after-usda-numbers-brownfield-ag-news.md) | +3.1% | -5.6% |
| SBM | 2020-09-30 | [Big gains in corn, soybeans, wheat after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8791-big-gains-in-corn-soybeans-wheat-after-usda-numbers-brownfield-ag-news.md) | +8.2% | +17.3% |
| SBM | 2017-02-08 | [Soybeans, corn, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8600-soybeans-corn-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | +1.1% | -2.8% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-mostly-up-wheat-down-after-usda-numbers/

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