# Reviewing the 2023 commodity market performance | Food Business News

> Grain and oilseed futures fell sharply in calendar 2023, with nearby corn down 31% on record US production and Brazilian export competition. Chicago wheat dropped 21% on higher production, while China bought over 1.6 million tonnes of US soft red winter wheat late in the year.

- Date: 2024-01-17 · published 2024-01-17T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/32162-reviewing-the-2023-commodity-market-performance-food-business-news
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The annual review confirms the bearish supply backdrop for corn and wheat entering 2024, with export competition limiting price recovery.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- foodbusinessnews.net: https://www.foodbusinessnews.net/articles/25367-reviewing-the-2023-commodity-market-performance

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.