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NASS estimated 2023 average corn yields for Minnesota at 185 bushels per acre, 10 bushels below the 2022 record of 195. Nebraska and South Dakota yields rebounded from drought-hit 2022 levels despite limited rainfall in much of the Upper Midwest.
Solid 2023 yields confirm a sizable crop supply, which is mildly bearish for corn and soybean prices heading into the new marketing year.
agweek.comKent ThiesseFeb 29, 2024After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
