# Report Reaction Shows Differing Corn and Soybean Market Conditions - farmdoc daily

> USDA cut its 2023 national average corn yield to 173.0 bushels per acre from 173.8 and soybean yield to 49.6 from 50.1 in the October report. The soybean price reaction was much larger than corn's, which remained adequately supplied.

- Date: 2023-10-17 · published 2023-10-17T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/33645-report-reaction-shows-differing-corn-and-soybean-market-conditions-farmdoc-daily
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower USDA yield estimates reduce available supply, supporting soybean and meal prices more than corn, which stays comparatively cheap for feed buyers.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-03-31 | [PF Report Reaction: Corn, soybean planting intentions shock markets - Pro Farmer](https://feedsoft.ai/events/42295-pf-report-reaction-corn-soybean-planting-intentions-shock-markets-pro-farmer.md) | +4.1% | +5.9% |
| CORN | 2022-10-18 | [WASDE Recap: Corn and Soybeans at a Turning Point - farmdoc daily](https://feedsoft.ai/events/14896-wasde-recap-corn-and-soybeans-at-a-turning-point-farmdoc-daily.md) | -0.9% | -2.3% |
| CORN | 2023-10-18 | [Brazil Expected to Expand Soybean Acreage and Reduce Corn Acreage - farmdoc daily](https://feedsoft.ai/events/13622-brazil-expected-to-expand-soybean-acreage-and-reduce-corn-acreage-farmdoc-daily.md) | +1.9% | -1.3% |
| CORN | 2019-09-30 | [USDA Releases Market-Friendly Data for Corn and Soybeans](https://feedsoft.ai/events/57009-usda-releases-market-friendly-data-for-corn-and-soybeans.md) | -0.9% | +1.1% |
| CORN | 2019-07-19 | [Corn and soybean crops at mid-season, 2019 - farmdoc](https://feedsoft.ai/events/57920-corn-and-soybean-crops-at-mid-season-2019-farmdoc.md) | -0.6% | -11.3% |
| SOY | 2022-10-18 | [WASDE Recap: Corn and Soybeans at a Turning Point - farmdoc daily](https://feedsoft.ai/events/14896-wasde-recap-corn-and-soybeans-at-a-turning-point-farmdoc-daily.md) | -1.0% | +4.1% |
| SOY | 2026-09-30 | [Report Reaction \| USDA shows 2025/26 corn ending stocks above 2-billion bushel mark - Pro Farmer](https://feedsoft.ai/events/17407-report-reaction-usda-shows-2025-26-corn-ending-stocks-above-2-billion-bushel.md) | +0.4% | -5.3% |
| SOY | 2019-09-30 | [USDA Releases Market-Friendly Data for Corn and Soybeans](https://feedsoft.ai/events/57009-usda-releases-market-friendly-data-for-corn-and-soybeans.md) | +3.8% | +4.2% |

## Sources

- farmdocdaily.illinois.edu: https://farmdocdaily.illinois.edu/2023/10/report-reaction-shows-differing-corn-and-soybean-market-conditions.html

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