Crop Ratings Leave a Bullish Surprise June 20, 2023
Since corn ratings started in 1986 there is only 1992's 52% in this week that is lower. We don't have the same structure of USDA reports back then as we do now. Their first yield estimate of 121.3 bpa in August later ended at a final number of 131.5. That was a record yield. It was +12% from a straight 20 year trendline. As we have clarified numerous times before, don't get set on only yield expectations at this time of year.
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