# Four Corn Industry Highlights for 2023 from the USDA Ag Outlook Forum

> The USDA Outlook Forum projected 2023 US corn plantings at 91.0 million acres, down from the October baseline but up 2.4 million from 2022. Corn yield is projected at 181.5 bushels per acre, up 4.7%, and wheat area is seen rising to 49.5 million acres.

- Date: 2023-02-01 · published 2023-02-01T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/37350-four-corn-industry-highlights-for-2023-from-the-usda-ag-outlook-forum
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A larger projected US corn area and higher yields point to ample domestic supply, which is bearish for feed grain prices.

## Read by commodity

- CORN: bearish ▼
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-06-23 | [FAS USDA lowers the forecast for corn import from Mexico](https://feedsoft.ai/events/70472-fas-usda-lowers-the-forecast-for-corn-import-from-mexico.md) | -0.6% | +3.5% |
| CORN | 2024-07-26 | [Corn & Soybean Market Outlook \| Industry News \| feedlotmagazine.com](https://feedsoft.ai/events/29307-corn-and-soybean-market-outlook-industry-news-feedlotmagazine-com.md) | -3.3% | -5.7% |
| CORN | 2023-12-23 | [CoBank predicts solid 2024 For US biofuels industry  : The Daily Digest](https://feedsoft.ai/events/32677-cobank-predicts-solid-2024-for-us-biofuels-industry-the-daily-digest.md) | +1.9% | -1.6% |
| CORN | 2021-02-19 | [Outlook Forecasts Larger Corn, Soybean Crops for 2021](https://feedsoft.ai/events/48482-outlook-forecasts-larger-corn-soybean-crops-for-2021.md) | +0.6% | -5.3% |
| CORN | 2020-02-20 | [USDA Outlook: More Crop Acres and Stronger Exports Sales in 2020 - Northern Ag Network](https://feedsoft.ai/events/54624-usda-outlook-more-crop-acres-and-stronger-exports-sales-in-2020-northern-ag.md) | -2.4% | -7.1% |
| WHEAT | 2024-01-26 | [USDA attache sees China 2023/24 corn imports at 20 mln tons](https://feedsoft.ai/events/14781-usda-attache-sees-china-2023-24-corn-imports-at-20-mln-tons.md) | -0.3% | -5.2% |
| WHEAT | 2022-06-13 | [WASDE update: Higher corn output from Ukraine](https://feedsoft.ai/events/40898-wasde-update-higher-corn-output-from-ukraine.md) | +1.0% | -6.4% |
| WHEAT | 2024-02-13 | [USDA Ag Outlook Ending Stock Estimates](https://feedsoft.ai/events/31634-usda-ag-outlook-ending-stock-estimates.md) | -0.5% | -4.9% |

## Sources

- ncga.com: https://ncga.com/stay-informed/media/the-corn-economy/article/2023/02/four-corn-industry-highlights-for-2023-from-the-usda-ag-outlook-forum

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