# USDA releases new crop estimates for major crops - Agweek | #1 source for agriculture news, farming, markets

> USDA's Agricultural Outlook Forum projected 2017-18 plantings with wheat and corn area each down about 4 million acres and soybean area up 4.6 million acres. Yield estimates use adjusted trend levels, keeping ending stocks high, and wheat markets are watching dryness in the Plains.

- Date: 2017-03-06 · published 2017-03-06T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/71835-usda-releases-new-crop-estimates-for-major-crops-agweek-1-source-for
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Lower corn and wheat acreage with high projected stocks is bearish, while Plains dryness is a bullish risk for wheat that could tighten supply if it persists.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -1.9% | -5.7% |
| CORN | 2020-05-12 | [WASDE report shows new crop ending stocks shrinking, corn stocks rising - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53058-wasde-report-shows-new-crop-ending-stocks-shrinking-corn-stocks-rising-agweek-1.md) | +0.6% | +4.2% |
| CORN | 2020-06-07 | [Have the markets found a bottom? - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9493-have-the-markets-found-a-bottom-agweek-1-source-for-agriculture-news-farming.md) | -0.3% | +2.8% |
| CORN | 2017-03-12 | [WASDE report puts major ag products on defensive - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11203-wasde-report-puts-major-ag-products-on-defensive-agweek-1-source-for.md) | +2.4% | +0.9% |
| CORN | 2024-02-29 | [Upper Midwest producers see solid crop yields in 2023 - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13207-upper-midwest-producers-see-solid-crop-yields-in-2023-agweek-1-source-for.md) | +3.7% | +3.8% |
| SOY | 2018-03-11 | [USDA report perplexes - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/65959-usda-report-perplexes-agweek-1-source-for-agriculture-news-farming-markets.md) | +2.0% | +1.7% |
| SOY | 2021-08-20 | [Market turns quiet after report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming.md) | +3.4% | -2.9% |
| SOY | 2017-03-12 | [WASDE report puts major ag products on defensive - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11203-wasde-report-puts-major-ag-products-on-defensive-agweek-1-source-for.md) | +0.4% | -5.4% |

## Sources

- agweek.com: https://www.agweek.com/opinion/usda-releases-new-crop-estimates-for-major-crops

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