# Ahead of the Open | October 24, 2023 - Pro Farmer

> Pro Farmer's morning outlook on October 24 expected corn and wheat to open lower and soybeans firmer, citing a strong US dollar index rally. Consultant Michael Cordonnier kept Brazil soybean and corn estimates at 162 and 125 MMT with a neutral-to-lower bias, and Russia's 2023 grain harvest is expected near 140 MMT.

- Date: 2023-10-24 · published 2023-10-24T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/10316-ahead-of-the-open-october-24-2023-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and a large Russian harvest pressure wheat and corn prices, while Brazilian crop uncertainty and planting delays provide some support for soybeans.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-06-14 | [Ahead of the Open - Pro Farmer](https://feedsoft.ai/events/6264-ahead-of-the-open-pro-farmer.md) | -2.8% | -4.2% |
| CORN | 2021-08-20 | [After the Bell \| Aug. 20, 2021 - Pro Farmer](https://feedsoft.ai/events/12606-after-the-bell-aug-20-2021-pro-farmer.md) | +0.4% | -6.4% |
| CORN | 2021-07-09 | [After the Bell \| July 9, 2021 - Pro Farmer](https://feedsoft.ai/events/10340-after-the-bell-july-9-2021-pro-farmer.md) | -6.6% | -7.9% |
| CORN | 2022-01-05 | [After the Bell \| January 5, 2022 - Pro Farmer](https://feedsoft.ai/events/5771-after-the-bell-january-5-2022-pro-farmer.md) | +1.5% | +4.5% |
| CORN | 2022-01-15 | [After the Bell \| January 14, 2022 - Pro Farmer](https://feedsoft.ai/events/7367-after-the-bell-january-14-2022-pro-farmer.md) | -0.5% | +6.0% |
| WHEAT | 2021-06-14 | [Ahead of the Open - Pro Farmer](https://feedsoft.ai/events/6264-ahead-of-the-open-pro-farmer.md) | +5.8% | -5.4% |
| WHEAT | 2022-01-05 | [After the Bell \| January 5, 2022 - Pro Farmer](https://feedsoft.ai/events/5771-after-the-bell-january-5-2022-pro-farmer.md) | +4.2% | +7.8% |
| WHEAT | 2022-01-15 | [After the Bell \| January 14, 2022 - Pro Farmer](https://feedsoft.ai/events/7367-after-the-bell-january-14-2022-pro-farmer.md) | +4.8% | +3.1% |

## Sources

- profarmer.com: https://www.profarmer.com/news/agriculture-news/ahead-open-october-24-2023

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