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The High Plains Ag Week feed grains update reviews the August WASDE, which cut the expected corn yield by 2.4 bushels per acre and production by 209 million bushels. Cash prices for corn, sorghum and wheat have fallen over the past year but remain near pre-Ukraine-invasion levels.
A smaller US corn crop tightens supplies for feed buyers and supports corn prices, though lower cash prices limit the rally. Sorghum is priced in step with corn as a feed substitute.
agrilife.orgamarilloageconAug 24, 2023After 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.
