# USDA forecasts record corn production, jump in exports | Profitability | farmweeknow.com

> USDA's May WASDE projected a record 2020/21 US corn crop of 15.995 billion bushels on a 178.5 bu/acre yield. Soybean production was forecast at 4.125 billion bushels, and the season-average corn price was set at $3.20, the lowest since 2006/07. Ending corn stocks were projected to jump to 3.31 billion bushels.

- Date: 2020-05-12 · published 2020-05-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/52965-usda-forecasts-record-corn-production-jump-in-exports-profitability-farmweeknow
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A record crop and sharply higher carryout stocks point to weaker corn and soybean prices. Export and ethanol demand recovery is the main offset if COVID-19 effects ease.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-08-10 | [USDA Forecasts Record-High Soybean Production in 2017](https://feedsoft.ai/events/69299-usda-forecasts-record-high-soybean-production-in-2017.md) | -4.5% | -6.5% |
| CORN | 2023-05-23 | [USDA forecasts record-large corn, soy production in 2023 \| Food Business News](https://feedsoft.ai/events/13277-usda-forecasts-record-large-corn-soy-production-in-2023-food-business-news.md) | -1.8% | +0.2% |
| 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 | 2023-08-01 | [USDA maintains record corn production forecasts despite Midwest drought](https://feedsoft.ai/events/13267-usda-maintains-record-corn-production-forecasts-despite-midwest-drought.md) | -2.3% | -2.8% |
| CORN | 2021-08-29 | [USDA Forecasts Record Farm Exports in FY 2021 and FY 2022 \| Farm Policy News \| Illinois](https://feedsoft.ai/events/45418-usda-forecasts-record-farm-exports-in-fy-2021-and-fy-2022-farm-policy-news.md) | -6.1% | -11.6% |
| SOY | 2017-08-10 | [USDA Forecasts Record-High Soybean Production in 2017](https://feedsoft.ai/events/69299-usda-forecasts-record-high-soybean-production-in-2017.md) | -4.3% | +0.0% |
| SOY | 2023-05-23 | [USDA forecasts record-large corn, soy production in 2023 \| Food Business News](https://feedsoft.ai/events/13277-usda-forecasts-record-large-corn-soy-production-in-2023-food-business-news.md) | -3.3% | +12.9% |
| SOY | 2023-11-09 | [USDA Predicts Record Corn Production](https://feedsoft.ai/events/33113-usda-predicts-record-corn-production.md) | +2.7% | -2.8% |

## Sources

- farmweeknow.com: https://www.farmweeknow.com/profitability/usda-forecasts-record-corn-production-jump-in-exports/article_fa755644-9479-11ea-9761-2b522c3ccd7a.html

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