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DTN's year-end review described 2023 as a resilient crop year, with drought, wind and hail damaging some areas. Western Corn Belt yields were better than expected for the little rain received, and Illinois and Indiana reported record crops.
Yields above expectations across much of the Corn Belt add to supply, which tends to weigh on corn and soybean prices.
dtnpf.comPamela SmithDec 27, 2023After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
