2023 Grain Yield Collapse
Drought conditions affect this years yield. Next year could become even worse.
This week’s WASDE report highlighted once again that the US grain market isn’t particularly looking good. Especially those grains that are harvested during the end of September and October, namely corn and soybeans saw big yield revisions to the downside. The reason: extreme weather in the form of excessive drought periods throughout the corn belt.
The current situation could just be a foretaste of what follows in 2023.