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NASS released 2022 county yields for corn and soybeans, showing U.S. average corn yield at 173 bushels per acre, 5 below the 178 trend. Drought cut yields in the Great Plains, Delta and mid-South, partly offset by above-trend Midwest counties.
Below-trend U.S. yields reduce supply and tend to support corn prices, while above-trend years have pressured prices lower.
farmdocdaily.illinois.eduHongxia JiaoMar 22, 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 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), 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.
