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farmdoc daily analysis states that corn and soybean prices remain historically high after the 2022 harvest, with nearby corn at $6.69 and soybeans at $14.57 per bushel. The authors review the 2022/23 supply and demand balance and offer revised forecasts.
Tight supply balances and elevated price levels shape feed costs and marketing decisions. Revised USDA-style projections could move expectations for corn and soybean prices.
farmdocdaily.illinois.eduHongxia JiaoNov 29, 2022After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
