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USDA projects South Dakota's 2023 corn crop at 816 million bushels, up 23% from last year, on 5.59 million acres. Soybean output is forecast at 217 million bushels, up 13%, and sorghum at 21.7 million bushels, up 82%, with a yield forecast of 85 bushels per acre.
A larger South Dakota crop adds to US corn and sorghum supply, which is bearish for feed grain prices in the region.
southdakotasearchlight.comJoshua HaiarSep 13, 2023After 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.
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.
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.
