# USDA Forecasts Record-High Soybean Production in 2017

> USDA's NASS Crop Production report forecast a record-high US soybean crop of 4.38 billion bushels for 2017, up 2% from 2016, on a record 89.5 million planted acres. Corn production is forecast at 14.2 billion bushels, down 7%, with yield at 169.5 bu/acre, and wheat output is down 25% to 1.74 billion bushels.

- Date: 2017-08-10 · published 2017-08-10T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/69299-usda-forecasts-record-high-soybean-production-in-2017
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The USDA's larger-than-expected corn and soybean crops point to ample supply and heavier ending stocks, which weighs on feed grain and meal prices. The sharp drop in wheat output is supportive for wheat prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-08-12 | [USDA forecasts record high corn, soybean yields](https://feedsoft.ai/events/51457-usda-forecasts-record-high-corn-soybean-yields.md) | +3.8% | +8.3% |
| 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 | 2017-01-12 | [Corn and Soybean Production Up in 2016, USDA Reports](https://feedsoft.ai/events/72836-corn-and-soybean-production-up-in-2016-usda-reports.md) | +0.1% | +1.9% |
| 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 | 2018-08-10 | [Soybeans, Grains Plunge After USDA Raises Production Forecasts](https://feedsoft.ai/events/63478-soybeans-grains-plunge-after-usda-raises-production-forecasts.md) | -7.5% | -9.1% |
| SOY | 2020-08-12 | [USDA forecasts record high corn, soybean yields](https://feedsoft.ai/events/51457-usda-forecasts-record-high-corn-soybean-yields.md) | +3.9% | +11.6% |
| SOY | 2024-08-12 | [USDA Forecasts Record Soybean Crop](https://feedsoft.ai/events/28713-usda-forecasts-record-soybean-crop.md) | -8.7% | -2.7% |
| SOY | 2017-01-12 | [Corn and Soybean Production Up in 2016, USDA Reports](https://feedsoft.ai/events/72836-corn-and-soybean-production-up-in-2016-usda-reports.md) | +6.7% | +4.7% |

## Sources

- nass.usda.gov: https://www.nass.usda.gov/Newsroom/archive/2017/08_10_2017.php

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