US cuts billions of dollars off of FY 23 ag export forecast

After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.

• May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.-1.8%
• Sep 10, 2021USDA raises corn and soy yield forecasts, pushing down price expectations | 2021-09-10 | Agri-Pulse Communications, Inc.+1.1%
• Feb 20, 2020USDA: Mixed 2020 farm outlook on small export increase, record production | 2020-02-20 | Agri-Pulse Communications, Inc.-2.4%
• Aug 12, 2019USDA trims corn, soybean acres off June estimates | 2019-08-12 | Agri-Pulse | Agri-Pulse Communications, Inc.-6.0%
• Jan 6, 2021USDA: Mexican stance against GMO hurts farmers | 2021-01-05 | Agri-Pulse Communications, Inc.+5.2%

After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.

• Sep 10, 2021USDA raises corn and soy yield forecasts, pushing down price expectations | 2021-09-10 | Agri-Pulse Communications, Inc.+3.0%
• Nov 8, 2019Nation's corn crop is shrinking | 2019-11-08 | Agri-Pulse Communications, Inc.-2.7%
• Jan 6, 2021USDA: Mexican stance against GMO hurts farmers | 2021-01-05 | Agri-Pulse Communications, Inc.+5.3%
• Aug 10, 2017Bearish USDA crop report shakes corn and soybean sectors | 2017-08-10 | Agri-Pulse | Agri-Pulse Communications, Inc.-4.3%
• Jan 13, 2026Daybreak Jan. 13: Soybean growers let down by crop report | Agri-Pulse Communications, Inc.+1.9%

Not enough comparable past events yet for a historical read.

Not enough comparable past events yet for a historical read.