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USDA's September WASDE showed a small change in U.S. corn and soybean production, with higher planted corn acreage offsetting lower yields. Farm Service Agency acreage data suggests corn acreage could stay high, and the authors expect 2023/24 corn stocks to remain large.
Larger corn acreage and ample stocks point to a return to lower corn prices, which favors cheaper feed grain for buyers.
farmdocdaily.illinois.eduHongxia JiaoSep 19, 2023After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
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.
