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NASS released county-level 2023 corn yields showing wide variation, with many counties above trend and others well below it. The US produced a record crop of more than 15.3 billion bushels despite June drought concerns.
A record national crop keeps corn supplies ample, while the uneven county yields could trigger insurance payments in some areas. Neither factor is large enough on its own to move prices much.
farmdocdaily.illinois.eduHongxia JiaoMar 19, 2024After 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.
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.
