# Corn Weekly Report

> StoneX reports that Pro Farmer's crop tour estimated US 2023/24 corn production at about 380 million tonnes, roughly 3.8 million tonnes below USDA's August estimate. Slow US export shipments and a comfortable balance sheet remained bearish factors, while hot, dry weather forecasts and Black Sea tensions were bullish.

- Date: 2023-08-28 · published 2023-08-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/34583-corn-weekly-report
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

The lower Pro Farmer estimate tightens US corn supply somewhat, but ample ending stocks keep the outlook balanced, so the net price effect is modest.

## Read by commodity

- CORN: neutral
- DDGS: neutral
- HOGS: bullish ▲
- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2019-05-23 | [Markets dally before COF report \| Western Livestock Journal](https://feedsoft.ai/events/5753-markets-dally-before-cof-report-western-livestock-journal.md) | -0.6% | -2.4% |
| LCATTLE | 2018-06-29 | [Feeder Cattle Auction report \| West Plains Daily Quill](https://feedsoft.ai/events/64679-feeder-cattle-auction-report-west-plains-daily-quill.md) | -1.7% | +2.0% |
| LCATTLE | 2023-07-16 | [Was the July WASDE Report a Gift From the USDA?](https://feedsoft.ai/events/7053-was-the-july-wasde-report-a-gift-from-the-usda.md) | +0.6% | +1.3% |
| LCATTLE | 2016-04-29 | [National Feeder Cattle Weekly Review 4/29/16 \| Livestock Market Reports \| lancasterfarming.com](https://feedsoft.ai/events/11611-national-feeder-cattle-weekly-review-4-29-16-livestock-market-reports.md) | -2.4% | +0.0% |
| LCATTLE | 2023-10-24 | [USDA Cattle on Feed Report Hits Cattle Prices Hard](https://feedsoft.ai/events/10309-usda-cattle-on-feed-report-hits-cattle-prices-hard.md) | +1.1% | -3.0% |
| CORN | 2017-09-14 | [WEEKLY EXPORT REPORT: Soybeans flex, corn fails to follow](https://feedsoft.ai/events/68857-weekly-export-report-soybeans-flex-corn-fails-to-follow.md) | +1.9% | +4.4% |
| CORN | 2019-07-23 | [8 points from ERS corn report](https://feedsoft.ai/events/58064-8-points-from-ers-corn-report.md) | +0.9% | -10.8% |
| CORN | 2016-12-12 | [World corn, soybean stocks hold steady, report shows](https://feedsoft.ai/events/73429-world-corn-soybean-stocks-hold-steady-report-shows.md) | +1.3% | +1.3% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-livestock-lean-hogs-climb-as-traders-eye-seasonal-supply-shifts
- stonex.com: https://www.stonex.com/en/insights/corn-weekly-report-2023-08-28/

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