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Pro Farmer estimates the 2023 U.S. corn crop at 14.960 billion bushels, with a yield of 172.0 bu/acre. It estimates soybeans at 4.110 billion bushels, with a yield of 49.7 bu/acre.
State estimates show heat and drought damage in Iowa, Nebraska and Minnesota.
Both estimates are below USDA's August figures, pointing to smaller supplies than the market had assumed. That supports corn and soybean prices.
profarmer.comPro Farmer EditorsAug 25, 2023After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
