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December 2023 corn futures have slid about $1 since late July as the USDA pegged yield at 175.1 bu per acre and export pace lags behind prior years. A projected 2 billion bushel carryout for 2023-24 is also weighing on prices.
A large expected carryout and slow exports keep corn prices under pressure, lowering feed ingredient costs for buyers. The author notes a historical post-harvest rally tendency, but that is seasonal commentary rather than a new supply shock.
farmprogress.comNaomi BlohmAug 17, 2023Not enough comparable past events yet for a historical read.
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.
