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Pro Farmer estimates the 2023 U.S. corn crop at 14.960 billion bushels, based on a yield of 172.0 bu/acre, down from USDA's August 175.1 bu/acre. It estimates soybeans at 4.110 billion bushels, with a yield of 49.7 bu/acre, down from USDA's 50.9.
Pro Farmer says soybeans may be vulnerable to a late-season collapse.
Both estimates fall well below USDA's August numbers, implying tighter corn and soybean supplies and supporting prices.
farmjournal.comFarm JournalAug 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, SOY 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.
