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Chicago corn fell 5.8% for the week as weekly export sales dropped 9% and the USDA forecast larger 2023 planted area. Early estimates put the 2023 US corn crop near 383 million tonnes on 91 million acres, with raised consumption and export forecasts for 2023/24.
Expected acreage gains and softer export demand add supply pressure to corn prices, partly offset by Argentine and Brazilian crop concerns.
tridge.comVictor LangatFeb 28, 2023Not 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.
