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USDA's National Agricultural Statistics Service reviewed the 2023 growing season, which started cold and wet and then turned dry over the summer. Planting kept pace with averages, and the harvests of winter wheat, oats, soybeans and corn finished close to normal timing.
Temperatures were above normal from August through November.
The season summary confirms that a dry late summer and a near-normal harvest pace shaped final crop sizes, which are already reflected in prices.
midwestfarmreport.comPam JahnkeJan 12, 2024After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% 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.
