
US harvest is nearly complete, so supply balance sheets are largely set except for final harvested acreage. Failed acreage, which includes corn and sorghum chopped for silage, may be larger than average in 2023 due to poor pollination and drought.
Potentially larger failed acreage would reduce harvested corn and sorghum supplies, which is supportive for prices until USDA finalizes acreage in January.
After 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.
Not enough comparable past events yet for a historical read.
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.