Price Reactions After USDA Crop Reports

0003 - Price Reactions After Crop Report Release - Mar 10, 2023.pdf

Agricultural Prices

Price Reactions After USDA Crop Reports

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United States
Department of
Agriculture
National
Agricultural
Statistics
Service

Price Reactions After
USDA Crop Reports
March 2023

ISSN: 1949-1905

Contents
Crop Reports and Price Reactions Overview .......................................................................................................................... 4
Price Reactions to USDA Crop Reports by Crop and Report ................................................................................................. 5
Corn Price Changes Following Crop Production Reports – United States: 1985-2022.......................................................... 6
Corn Price Changes Following Grain Stocks Reports – United States: 1984-2022 ............................................................. 11
Soybean Price Changes Following Crop Production Reports – United States: 1985-2022 .................................................. 15
Soybean Price Changes Following Grain Stocks Reports – United States: 1984-2022........................................................ 20
Wheat Price Changes Following Crop Production Reports – United States: 1987-2022 ..................................................... 24
Wheat Price Changes Following Grain Stocks Reports – United States: 1984-2022 ........................................................... 29
Upland Cotton Price Changes Following Crop Production Reports – United States: 1989-2022 ........................................ 33
Information Contacts ............................................................................................................................................................ 38

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

3

Crop Reports and Price Reactions Overview
This report contains corn, soybean, wheat, and Upland cotton price reactions to the USDA Crop Production and
Grain Stocks reports. Each year, estimates of corn, soybean, wheat, and cotton production are published in the monthly
Crop Production reports. Corn and soybean estimates are published in the August, September, October, and November
Crop Production reports and the January Crop Production Annual Summary. Wheat estimates are published in the May,
June, July, and August Crop Production reports and the September Small Grains Annual Summary. Cotton estimates are
included in the May, August, September, October, November, and December Crop Production reports, and the January
Crop Production Annual Summary. The cotton estimates in the May Crop Production report represent the end-of-season
estimates for the prior year. Estimates of corn, soybean, and wheat stocks are published in the Grain Stocks report issued
in March, June, September, and January. This report does not imply that NASS reports are solely responsible for changes
to the price level for commodities referenced in the publication. The price level for any commodity can potentially be
affected by other information available to the market at that time but ultimately is determined by supply and demand.
The prices in this report for corn, soybeans, wheat, and cotton represent sales from producers to first buyers at major
markets as reported by the USDA Agricultural Marketing Service (AMS). The price data series used for each commodity
is described below:
Commodity
Corn
Soybeans
Wheat
Upland cotton

AMS Market News Price Used
The closing cash price for Southern Iowa #2 yellow corn.
The average price paid at Southern Iowa points by processors.
The closing cash price for Kansas City #1 hard winter wheat (ordinary protein).
The 7-Market Average Base Quotations for Upland cotton (the Upland cotton base quality is color 41,
leaf grade 4, staple 34).

Before May 1994, the quarterly Grain Stocks report, the monthly Crop Production report, as well as the
Annual Crop Production and Small Grains Summaries were all published at 3:00 p.m. ET. Therefore, the “prior closing
price,” referred to in the tables of this report, is the closing price the day of the release since the United States markets
were already closed at 3:00 p.m. ET and did not have a chance to react on that day. Referring to data in this publication, if
a report was published on Thursday at 3:00 p.m. ET, the “prior closing price” is Thursday’s closing price. The “day after
price” is the closing price on Friday and the “week after price” is the following Thursday’s closing price.
However, starting in May 1994, the release time for all reports mentioned previously was changed to 8:30 a.m. ET.
Therefore, the “prior closing price,” referred to in the tables of this report, is the previous day’s closing price since the
United States markets had not yet opened on the day of the release. The “day after” and “week after” prices are then
published to reflect the same number of days after report publication as when the report was released at 3:00 p.m. ET.
Referring again to data in this publication, if a report was published on Tuesday at 8:30 a.m. ET, the “prior closing price”
is Monday’s closing price. The “day after price” is the closing price on Tuesday since the United States markets were
open after the report was released and the “week after price” is the following Monday’s closing price.
Beginning in January 2013, the release time for publications referenced in this report was changed to 12:00 p.m. ET. This
change did not affect the “prior closing price” or “day after price” definitions described in the previous paragraph.
Due to the lapse in federal funding in October 2013, the National Agricultural Statistics Service (NASS)
2013 October Crop Production report was cancelled. Additionally, Agricultural Marketing Service (AMS) Market News
price reports were also cancelled. As a result, no data is available for a price comparison for the
2013 Small Grain Annual Summary or the 2013 September Grain Stocks report.
Beginning with the 2011 data series in this report, the “annual” term for cotton refers to the May estimates. Prior to 2011,
“annual” referenced the January Crop Production Annual Summary.

4

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Price Reactions to USDA Crop Reports by Crop and Report
Crop, USDA report,
and
price reaction

Day after report

Week after report

Reaction

Average
price change 1

Reaction

Average
price change 1

(number)

(cents per bushel)

(number)

(cents per bushel)

Corn
Crop Production (1985-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

81
21
87
189

7.8
(X)
-7.4
(X)

97
1
91
189

12.2
(X)
-13.5
(X)

Grain Stocks (1984-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

74
8
74
156

9.5
(X)
-10.1
(X)

78
6
72
156

15.7
(X)
-16.6
(X)

Soybeans
Crop Production (1985-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

96
5
88
189

16.3
(X)
-16.1
(X)

96
3
90
189

24.7
(X)
-25.9
(X)

Grain Stocks (1984-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

74
3
79
156

18.9
(X)
-17.2
(X)

74
1
81
156

26.0
(X)
-27.0
(X)

Wheat
Crop Production (1987-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

89
11
93
193

9.2
(X)
-8.4
(X)

95
4
94
193

16.5
(X)
-20.1
(X)

Grain Stocks (1984-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

73
8
75
156

11.4
(X)
-13.1
(X)

71
5
80
156

18.4
(X)
-19.9
(X)

Upland cotton
Crop Production (1989-2022)
Price increases ......................................
No price change .....................................
Price decreases .....................................
Total ......................................................

102
0
112
214

98.0
(X)
-101.6
(X)

116
1
97
214

196.8
(X)
-213.1
(X)

(X) Not applicable.
1
Cotton price changes displayed in points per pound.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

5

Corn Price Changes Following Crop Production Reports – United States: 1985-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1985
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

0
-5
-3
+2
-1

+5
-13
-7
+8
-2

1986
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

0
0
-1
0
+2

-6
-1
-4
+2
+4

1987
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

1.48
1.57
1.54
1.74
1.86

1.48
1.56
1.54
1.78
1.89

1.51
1.61
1.66
1.79
1.90

0
-1
0
+4
+3

+3
+4
+12
+5
+4

1988
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.77
2.78
2.81
2.70
2.70

2.68
2.78
2.81
2.63
2.70

2.78
2.67
2.75
2.58
2.56

-9
0
0
-7
0

+1
-11
-6
-12
-14

1989
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.33
2.42
2.33
2.34
2.32

2.40
2.36
2.32
2.35
2.36

2.42
2.30
2.40
2.40
2.34

+7
-6
-1
+1
+4

+9
-12
+7
+6
+2

1990
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.55
2.36
2.34
2.33
2.31

2.54
2.30
2.27
2.32
2.35

2.58
2.26
2.25
2.25
2.39

-1
-6
-7
-1
+4

+3
-10
-9
-8
+8

1991
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.56
2.46
2.42
2.45
2.47

2.53
2.44
2.42
2.48
2.49

2.36
2.40
2.34
2.46
2.51

-3
-2
0
+3
+2

-20
-6
-8
+1
+4

1992
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.20
2.22
2.06
2.03
2.16

2.22
2.24
2.05
2.06
2.12

2.26
2.16
2.04
2.14
2.16

+2
+2
-1
+3
-4

+6
-6
-2
+11
0

1993
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.30
2.24
2.30
2.61
3.04

2.23
2.25
2.36
2.72
3.08

2.24
2.26
2.37
2.78
2.96

-7
+1
+6
+11
+4

-6
+2
+7
+17
-8

See footnote(s) at end of table.

6

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Corn Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1994
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

2.20
2.18
2.01
2.08
2.33

2.20
2.11
2.02
2.10
2.34

2.25
2.05
1.98
2.12
2.35

0
-7
+1
+2
+1

+5
-13
-3
+4
+2

1995
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

2.65
2.75
3.02
3.23
3.61

2.65
2.79
3.04
3.19
3.55

2.67
2.84
3.07
3.18
3.54

0
+4
+2
-4
-6

+2
+9
+5
-5
-7

1996
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

4.91
3.74
2.99
2.70
2.53

4.82
3.60
2.91
2.70
2.60

4.53
3.24
2.90
2.64
2.67

-9
-14
-8
0
+7

-38
-50
-9
-6
+14

1997
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

2.50
2.66
2.70
2.76
2.49

2.63
2.56
2.73
2.71
2.63

2.59
2.54
2.67
2.70
2.70

+13
-10
+3
-5
+14

+9
-12
-3
-6
+21

1998
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

2.06
1.86
1.93
2.10
2.12

2.03
1.81
1.98
2.20
2.11

1.99
1.75
2.05
2.15
2.11

-3
-5
+5
+10
-1

-7
-11
+12
+5
-1

1999
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

1.88
1.86
1.69
1.95
1.91

1.74
1.83
1.64
1.88
1.97

1.81
1.75
1.75
1.91
2.06

-14
-3
-5
-7
+6

-7
-11
+6
-4
+15

2000
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

1.54
1.67
1.80
1.97
2.11

1.56
1.66
1.84
1.99
2.04

1.57
1.51
1.86
1.98
2.00

+2
-1
+4
+2
-7

+3
-16
+6
+1
-11

2001
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

2.09
2.02
1.91
1.97
1.97

2.09
1.96
1.85
1.97
2.00

2.02
1.96
1.85
2.02
2.01

0
-6
-6
0
+3

-7
-6
-6
+5
+4

2002
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

2.44
2.79
2.39
2.26
2.33

2.53
2.69
2.35
2.29
2.24

2.65
2.58
2.44
2.40
2.22

+9
-10
-4
+3
-9

+21
-21
+5
+14
-11

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

7

Corn Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2003
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.16
2.38
2.15
2.31
2.43

2.23
2.26
2.09
2.36
2.56

2.31
2.15
2.11
2.35
2.61

+7
-12
-6
+5
+13

+15
-23
-4
+4
+18

2004
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.25
2.17
1.82
1.77
1.96

2.22
2.13
1.79
1.84
1.91

2.28
1.95
1.85
2.00
1.88

-3
-4
-3
+7
-5

+3
-22
+3
+23
-8

2005
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.11
1.75
1.54
1.86
1.98

2.04
1.73
1.61
1.86
1.97

1.98
1.66
1.62
1.87
1.97

-7
-2
+7
0
-1

-13
-9
+8
+1
-1

2006
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

2.14
2.14
2.54
3.43
3.54

2.01
2.09
2.67
3.38
3.67

1.98
2.22
2.91
3.52
3.86

-13
-5
+13
-5
+13

-16
+8
+37
+9
+32

2007
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

3.07
2.95
3.13
3.78
4.37

3.07
3.02
3.21
3.74
4.49

2.90
2.94
3.50
3.66
4.68

0
+7
+8
-4
+12

-17
-1
+37
-12
+31

2008
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

4.66
4.88
3.86
3.26
3.77

4.78
5.17
3.61
3.40
3.49

5.11
4.76
3.43
3.43
3.56

+12
+29
-25
+14
-28

+45
-12
-43
+17
-21

2009
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

3.40
3.12
3.48
3.36
3.78

3.40
3.15
3.44
3.49
3.48

3.23
3.28
3.54
3.76
3.26

0
+3
-4
+13
-30

-17
+16
+6
+40
-52

2010
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

3.58
4.24
4.61
5.53
5.86

3.71
4.36
4.81
5.43
6.10

3.85
4.53
5.26
5.39
6.37

+13
+12
+20
-10
+24

+27
+29
+65
-14
+51

2011
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

6.95
7.08
6.30
6.56
6.36

7.16
7.19
6.26
6.53
5.96

7.08
6.65
6.38
6.44
5.81

+21
+11
-4
-3
-40

+13
-43
+8
-12
-55

See footnote(s) at end of table.

8

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Corn Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2012
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

8.11
7.55
7.17
7.21
7.01

7.91
7.45
7.57
7.22
7.05

7.90
7.12
7.29
7.14
7.22

-20
-10
+40
+1
+4

-21
-43
+12
-7
+21

2013
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

5.69
4.64
(NA)
4.16
4.11

5.78
4.58
(NA)
4.22
4.31

5.86
4.42
(NA)
4.27
4.26

+9
-6
(NA)
+6
+20

+17
-22
(NA)
+11
+15

2014
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.65
3.36
3.03
3.33
3.76

3.69
3.31
2.93
3.30
3.80

3.71
3.28
3.11
3.46
3.69

+4
-5
-10
-3
+4

+6
-8
+8
+13
-7

2015
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.62
3.52
3.63
3.62
3.40

3.43
3.62
3.55
3.56
3.48

3.54
3.45
3.51
3.57
3.54

-19
+10
-8
-6
+8

-8
-7
-12
-5
+14

2016
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.09
3.07
3.18
3.38
3.39

3.07
3.05
3.07
3.25
3.41

3.17
3.04
3.22
3.24
3.47

-2
-2
-11
-13
+2

+8
-3
+4
-14
+8

2017
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.47
3.22
3.09
3.15
3.30

3.32
3.16
3.12
3.10
3.27

3.30
3.07
3.11
3.12
3.32

-15
-6
+3
-5
-3

-17
-15
+2
-3
+2

2018
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.31
3.25
3.26
3.54
3.51

3.22
3.10
3.30
3.53
3.46

3.42
2.95
3.30
3.49
3.47

-9
-15
+4
-1
-5

+11
-30
+4
-5
-4

2019
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.65
3.30
3.65
3.66
3.62

3.40
3.37
3.57
3.67
3.65

3.20
3.42
3.69
3.65
3.60

-25
+7
-8
+1
+3

-45
+12
+4
-1
-2

2020
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

3.04
3.46
3.71
3.76
4.82

3.08
3.52
3.75
3.90
5.07

3.21
3.58
3.82
3.90
5.22

+4
+6
+4
+14
+25

+17
+12
+11
+14
+40

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

9

Corn Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2021
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

6.19
4.94
5.12
5.26
5.82

6.26
4.94
5.04
5.26
5.80

5.95
5.12
5.15
5.50
5.78

+7
0
-8
0
-2

-24
+18
+3
+24
-4

2022
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

6.88
6.77
6.49
6.33
6.41

6.90
6.89
6.49
6.30
6.56

6.49
6.50
6.32
6.37
6.66

+2
+12
0
-3
+15

-39
-27
-17
+4
+25

(NA) Not available.
1
Closing cash price for Southern Iowa #2 yellow corn as reported by AMS Grain Market News.
2
The price change is indicated by the difference between the prior closing price and the price for the day or week after each report.

10

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Corn Price Changes Following Grain Stocks Reports – United States: 1984-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1984
January .........................
April ...............................
June ..............................
October .........................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

-4
-10
-1
-1

-4
-19
-10
-2

1985
January .........................
April ...............................
June ..............................
October .........................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

0
+1
-2
+2

0
-2
+4
+8

1986
January .........................
April ...............................
June ..............................
September .....................
December ......................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

-1
+2
-9
-3
+2

-2
+6
-32
-16
+4

1987
March ............................
June ..............................
September .....................
December ......................

(NA)
(NA)
1.60
1.86

(NA)
(NA)
1.66
1.89

(NA)
(NA)
1.59
1.90

-1
-6
+6
+3

-6
0
-1
+4

1988
March ............................
June ..............................
September .....................
December ......................

2.02
2.90
2.73
2.70

2.00
3.00
2.78
2.70

2.01
2.94
2.80
2.56

-2
+10
+5
0

-1
+4
+7
-14

1989
March ............................
June ..............................
September .....................
December ......................

2.68
2.69
2.28
2.32

2.62
2.73
2.28
2.36

2.68
2.77
2.36
2.34

-6
+4
0
+4

0
+8
+8
+2

1990
March ............................
June ..............................
September .....................
December ......................

2.61
2.92
2.24
2.31

2.64
2.91
2.24
2.35

2.69
2.81
2.26
2.39

+3
-1
0
+4

+8
-11
+2
+8

1991
March ............................
June ..............................
September .....................
December ......................

2.56
2.38
2.32
2.47

2.58
2.32
2.41
2.49

2.58
2.38
2.44
2.51

+2
-6
+9
+2

+2
0
+12
+4

1992
March ............................
June ..............................
September .....................
December ......................

2.62
2.55
2.13
2.16

2.57
2.60
2.11
2.12

2.60
2.51
2.06
2.16

-5
+5
-2
-4

-2
-4
-7
0

1993
March ............................
June ..............................
September .....................
December ......................

2.33
2.25
2.24
3.04

2.32
2.33
2.23
3.08

2.36
2.40
2.26
2.96

-1
+8
-1
+4

+3
+15
+2
-8

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

11

Corn Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1994
March .............................
June ...............................
September .....................
December ......................

2.75
2.46
2.00
2.33

2.72
2.49
2.03
2.34

2.78
2.35
2.07
2.35

-3
+3
+3
+1

+3
-11
+7
+2

1995
March .............................
June ...............................
September .....................
December ......................

2.48
2.66
2.93
3.61

2.48
2.70
2.93
3.55

2.47
2.78
2.94
3.54

0
+4
0
-6

-1
+12
+1
-7

1996
March .............................
June ...............................
September .....................
December ......................

4.05
4.77
3.18
2.53

4.14
5.00
3.01
2.60

4.26
5.15
2.94
2.67

+9
+23
-17
+7

+21
+38
-24
+14

1997
March .............................
June ...............................
September .....................
December ......................

3.01
2.41
2.48
2.49

3.03
2.43
2.47
2.63

2.89
2.36
2.52
2.70

+2
+2
-1
+14

-12
-5
+4
+21

1998
March .............................
June ...............................
September .....................
December ......................

2.63
2.33
1.84
2.12

2.56
2.40
1.80
2.11

2.46
2.34
1.85
2.11

-7
+7
-4
-1

-17
+1
+1
-1

1999
March .............................
June ...............................
September .....................
December ......................

2.26
2.00
1.88
1.91

2.20
2.00
1.80
1.97

2.11
1.76
1.71
2.06

-6
0
-8
+6

-15
-24
-17
+15

2000
March .............................
June ...............................
September .....................
December ......................

2.20
1.69
1.61
2.11

2.21
1.65
1.65
2.04

2.16
1.62
1.83
2.00

+1
-4
+4
-7

-4
-7
+22
-11

2001
March .............................
June ...............................
September .....................
December ......................

1.93
1.78
1.86
1.97

1.86
1.79
1.82
2.00

2.00
1.89
1.84
2.01

-7
+1
-4
+3

+7
+11
-2
+4

2002
March .............................
June ...............................
September .....................
December ......................

2.03
2.22
2.50
2.33

2.00
2.20
2.40
2.24

1.98
2.26
2.47
2.22

-3
-2
-10
-9

-5
+4
-3
-11

2003
March .............................
June ...............................
September .....................
December ......................

2.30
2.35
2.13
2.43

2.38
2.30
2.08
2.56

2.40
2.29
2.10
2.61

+8
-5
-5
+13

+10
-6
-3
+18

See footnote(s) at end of table.

12

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Corn Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2004
March ............................
June ..............................
September .....................
December ......................

3.06
2.68
1.70
1.96

3.11
2.58
1.68
1.91

3.19
2.51
1.75
1.88

+5
-10
-2
-5

+13
-17
+5
-8

2005
March ............................
June ..............................
September .....................
December ......................

2.07
2.04
1.58
1.98

2.04
2.01
1.61
1.97

1.97
2.21
1.57
1.97

-3
-3
+3
-1

-10
+17
-1
-1

2006
March ............................
June ..............................
September .....................
December ......................

2.13
2.09
2.36
3.54

2.14
2.11
2.26
3.67

2.23
2.18
2.33
3.86

+1
+2
-10
+13

+10
+9
-3
+32

2007
March ............................
June ..............................
September .....................
December ......................

3.65
3.25
3.46
4.37

3.48
3.11
3.30
4.49

3.42
3.18
2.93
4.68

-17
-14
-16
+12

-23
-7
-53
+31

2008
March ............................
June ..............................
September .....................
December ......................

5.14
6.97
4.56
3.77

5.23
6.63
4.29
3.49

5.61
6.46
3.65
3.56

+9
-34
-27
-28

+47
-51
-91
-21

2009
March ............................
June ..............................
September .....................
December ......................

3.73
3.78
3.27
3.78

3.91
3.51
3.25
3.48

3.95
3.41
3.39
3.26

+18
-27
-2
-30

+22
-37
+12
-52

2010
March ............................
June ..............................
September .....................
December ......................

3.34
3.19
4.70
5.86

3.35
3.43
4.58
6.10

3.37
3.52
4.50
6.37

+1
+24
-12
+24

+3
+33
-20
+51

2011
March ............................
June ..............................
September .....................
December ......................

6.32
6.87
6.10
6.36

6.77
6.43
5.70
5.96

7.45
6.38
5.89
5.81

+45
-44
-40
-40

+113
-49
-21
-55

2012
March ............................
June ..............................
September .....................
December ......................

5.97
6.61
6.84
7.01

6.40
6.79
7.20
7.05

6.58
7.62
7.31
7.22

+43
+18
+36
+4

+61
+101
+47
+21

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

13

Corn Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2013
March .............................
June ...............................
September .....................
December ......................

7.49
7.00
(NA)
4.11

7.09
6.96
(NA)
4.31

6.53
6.67
(NA)
4.26

-40
-4
(NA)
+20

-96
-33
(NA)
+15

2014
March .............................
June ...............................
September .....................
December ......................

4.90
4.45
2.83
3.76

5.00
4.25
2.77
3.80

4.97
4.15
2.89
3.69

+10
-20
-6
+4

+7
-30
+6
-7

2015
March .............................
June ...............................
September .....................
December ......................

3.85
3.67
3.60
3.40

3.68
3.97
3.56
3.48

3.74
4.00
3.68
3.54

-17
+30
-4
+8

-11
+33
+8
+14

2016
March .............................
June ...............................
September .....................
December ......................

3.62
3.64
2.98
3.39

3.48
3.50
3.05
3.41

3.54
3.30
3.09
3.47

-14
-14
+7
+2

-8
-34
+11
+8

2017
March .............................
June ...............................
September .....................
December ......................

3.47
3.41
3.03
3.30

3.54
3.53
3.04
3.27

3.49
3.59
3.03
3.32

+7
+12
+1
-3

+2
+18
0
+2

2018
March .............................
June ...............................
September .....................
December ......................

3.35
3.27
3.25
3.51

3.45
3.28
3.14
3.46

3.39
3.26
3.27
3.47

+10
+1
-11
-5

+4
-1
+2
-4

2019
March .............................
June ...............................
September .....................
December ......................

3.47
4.12
3.44
3.62

3.35
3.93
3.57
3.65

3.40
4.11
3.53
3.60

-12
-19
+13
+3

-7
-1
+9
-2

2020
March .............................
June ...............................
September .....................
December ......................

3.28
3.29
3.53
4.83

3.28
3.40
3.67
5.07

3.24
3.45
3.71
5.22

0
+11
+14
+24

-4
+16
+18
+39

2021
March .............................
June ...............................
September .....................
December ......................

5.45
7.04
5.06
5.82

5.70
7.26
5.03
5.80

5.61
6.43
4.98
5.78

+25
+22
-3
-2

+16
-61
-8
-4

2022
March .............................
June ...............................
September .....................
December ......................

7.18
7.79
6.32
6.41

7.27
7.47
6.41
6.56

7.32
7.39
6.34
6.66

+9
-32
+9
+15

+14
-40
+2
+25

(NA) Not available.
1
Closing cash price for Southern Iowa #2 yellow corn as reported by AMS Grain Market News.
2
The price change is indicated by the difference between the prior closing price and the price for the day or week after each report.

14

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Soybean Price Changes Following Crop Production Reports – United States: 1985-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1985
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

-4
+5
-3
-5
-1

-10
+2
+1
-30
-3

1986
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

+3
+3
+2
-1
+1

0
-14
+1
-4
+1

1987
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

+2
+3
-4
+2
+11

+3
+5
-3
+12
+6

1988
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

-10
+3
-4
-26
-36

+33
+5
-3
-51
-63

1989
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

6.10
6.00
5.42
5.62
5.66

6.20
5.70
5.34
5.52
5.62

6.14
5.69
5.56
5.84
5.54

+10
-30
-8
-10
-4

+4
-31
+14
+22
-12

1990
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

6.13
6.33
6.15
5.84
5.55

6.23
6.25
6.12
5.74
5.57

6.26
6.09
6.00
5.68
5.76

+10
-8
-3
-10
+2

+13
-24
-15
-16
+21

1991
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

5.62
5.88
5.68
5.54
5.58

5.55
5.88
5.46
5.62
5.51

5.35
5.92
5.36
5.66
5.60

-7
0
-22
+8
-7

-27
+4
-32
+12
+2

1992
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

5.47
5.57
5.22
5.40
5.68

5.57
5.51
5.27
5.51
5.70

5.54
5.42
5.15
5.55
5.68

+10
-6
+5
+11
+2

+7
-15
-7
+15
0

1993
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

6.73
6.38
6.00
6.28
6.98

6.44
6.20
5.98
6.57
7.22

6.46
6.24
5.96
6.76
7.08

-29
-18
-2
+29
+24

-27
-14
-4
+48
+10

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

15

Soybeans Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1994
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

5.70
5.65
5.08
5.51
5.59

5.71
5.68
5.16
5.56
5.56

5.69
5.36
5.20
5.63
5.51

+1
+3
+8
+5
-3

-1
-29
+12
+12
-8

1995
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

5.83
6.11
6.32
6.76
7.41

5.74
6.12
6.39
6.70
7.31

5.84
6.36
6.27
6.66
7.39

-9
+1
+7
-6
-10

+1
+25
-5
-10
-2

1996
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

7.95
8.19
7.27
6.88
6.94

8.16
8.17
6.94
6.94
7.20

8.10
7.99
6.81
7.05
7.39

+21
-2
-33
+6
+26

+15
-20
-46
+17
+45

1997
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

7.15
6.96
6.67
7.34
6.54

7.35
6.89
6.88
7.20
6.63

7.34
6.61
6.89
7.23
6.67

+20
-7
+21
-14
+9

+19
-35
+22
-11
+13

1998
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

5.58
5.19
5.19
5.60
5.34

5.53
5.19
5.40
5.74
5.24

5.59
5.13
5.28
5.66
5.15

-5
0
+21
+14
-10

+1
-6
+9
+6
-19

1999
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

4.63
4.85
4.54
4.70
4.60

4.30
4.95
4.54
4.56
4.62

4.48
4.66
4.63
4.64
4.85

-33
+10
0
-14
+2

-15
-19
+9
-6
+25

2000
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

4.49
4.86
4.59
4.65
4.79

4.54
4.84
4.56
4.60
4.66

4.58
4.49
4.53
4.71
4.55

+5
-2
-3
-5
-13

+9
-37
-6
+6
-24

2001
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

5.13
4.76
4.43
4.34
4.20

5.19
4.68
4.27
4.38
4.30

5.01
4.73
4.26
4.43
4.39

+6
-8
-16
+4
+10

-12
-3
-17
+9
+19

2002
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

5.56
5.89
5.14
5.63
5.66

5.79
5.78
5.18
5.57
5.42

5.92
5.72
5.41
5.64
5.38

+23
-11
+4
-6
-24

+36
-17
+27
+1
-28

See footnote(s) at end of table.

16

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Soybeans Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2003
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

5.48
6.01
6.68
7.67
7.80

5.61
6.13
6.99
7.61
8.09

5.87
6.07
7.16
7.74
8.17

+13
+12
+31
-6
+29

+39
+6
+48
+7
+37

2004
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

5.55
5.69
5.16
5.12
5.37

5.92
5.54
4.93
5.20
5.26

5.97
5.36
5.03
5.58
5.07

+37
-15
-23
+8
-11

+42
-33
-13
+46
-30

2005
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

6.25
5.43
4.97
5.73
5.55

6.25
5.40
5.12
5.75
5.42

5.91
5.33
5.14
5.66
5.44

0
-3
+15
+2
-13

-34
-10
+17
-7
-11

2006
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

5.22
5.10
5.21
6.45
6.37

5.16
5.04
5.39
6.40
6.76

5.19
5.24
5.71
6.30
6.75

-6
-6
+18
-5
+39

-3
+14
+50
-15
+38

2007
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

7.96
8.30
9.14
9.99
11.88

7.87
8.48
9.01
10.12
12.15

7.39
8.88
9.33
10.35
11.96

-9
+18
-13
+13
+27

-57
+58
+19
+36
+8

2008
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

11.76
11.33
9.27
8.78
9.94

11.91
11.50
8.64
9.05
9.24

12.54
10.67
8.22
8.68
9.50

+15
+17
-63
+27
-70

+78
-66
-105
-10
-44

2009
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

11.87
9.42
9.46
9.23
9.72

11.93
9.18
9.66
9.14
9.43

10.07
9.59
9.85
9.80
9.08

+6
-24
+20
-9
-29

-180
+17
+39
+57
-64

2010
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

10.23
10.18
10.28
12.30
13.29

10.32
10.02
10.84
12.92
13.85

10.41
10.04
11.41
12.74
13.81

+9
-16
+56
+62
+56

+18
-14
+113
+44
+52

2011
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

12.90
13.65
12.02
11.67
11.77

13.18
13.31
12.10
11.53
11.58

13.50
12.85
12.36
11.78
11.62

+28
-34
+8
-14
-19

+60
-80
+34
+11
-15

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

17

Soybeans Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2012
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

16.62
16.78
15.11
14.82
13.80

16.74
17.22
15.37
13.97
13.71

16.63
16.13
14.97
13.97
14.29

+12
+44
+26
-85
-9

+1
-65
-14
-85
+49

2013
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

12.97
13.93
(NA)
12.78
12.67

13.40
14.20
(NA)
13.06
12.72

13.52
13.43
(NA)
13.18
13.11

+43
+27
(NA)
+28
+5

+55
-50
(NA)
+40
+44

2014
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

11.98
10.48
9.24
10.28
10.32

11.87
10.27
8.99
10.08
9.97

11.95
10.02
9.45
9.91
9.76

-11
-21
-25
-20
-35

-3
-46
+21
-37
-56

2015
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

10.02
8.80
8.65
8.70
8.51

9.23
8.76
8.71
8.56
8.65

9.15
8.78
8.91
8.65
8.69

-79
-4
+6
-14
+14

-87
-2
+26
-5
+18

2016
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

10.11
9.79
9.24
9.82
9.71

10.13
9.62
9.09
9.63
10.08

10.41
9.63
9.24
9.62
10.35

+2
-17
-15
-19
+37

+30
-16
0
-20
+64

2017
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

9.64
9.38
9.24
9.57
9.12

9.29
9.28
9.51
9.44
9.22

9.19
9.34
9.41
9.45
9.36

-35
-10
+27
-13
+10

-45
-4
+17
-12
+24

2018
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

8.31
7.38
7.82
8.27
8.49

7.94
7.48
7.84
8.33
8.48

8.36
7.16
8.12
8.44
8.38

-37
+10
+2
+6
-1

+5
-22
+30
+17
-11

2019
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

8.27
8.09
8.79
9.18
9.12

8.14
8.37
8.79
9.11
9.14

8.25
8.30
8.93
8.98
8.93

-13
+28
0
-7
+2

-2
+21
+14
-20
-19

2020
August ...........................
September .....................
October ..........................
November ......................
Annual ...........................

8.80
9.76
10.27
10.74
13.53

8.91
9.95
10.35
11.07
14.00

9.21
10.18
10.28
11.16
14.01

+11
+19
+8
+33
+47

+41
+42
+1
+42
+48

See footnote(s) at end of table.

18

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Soybeans Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2021
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

13.80
12.16
12.21
11.62
13.62

13.76
12.35
11.78
11.83
13.75

13.75
12.46
11.99
12.32
13.37

-4
+19
-43
+21
+13

-5
+30
-22
+70
-25

2022
August ...........................
September .....................
October .........................
November ......................
Annual ...........................

16.20
14.69
13.04
14.19
14.72

16.03
15.46
13.14
14.35
14.97

15.53
14.56
12.96
14.39
15.07

-17
+77
+10
+16
+25

-67
-13
-8
+20
+35

(NA) Not available.
1
Average prices paid at Southern Iowa points by processors as reported by AMS Grain Market News.
2
The price is indicated by the difference between the prior closing price and the price for the day or week after each report.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

19

Soybean Price Changes Following Grain Stocks Reports – United States: 1984-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1984
January ..........................
April ...............................
June ...............................
September .....................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

+19
+11
-30
+6

+7
-17
-87
+15

1985
January ..........................
April ...............................
June ...............................
September .....................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

-10
-6
-2
-4

-11
-17
-9
+1

1986
January ..........................
April ...............................
June ...............................
September .....................
December ......................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

-1
+15
-8
+2
+1

-3
-3
-7
-18
+1

1987
March .............................
June ...............................
September .....................
December ......................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

+3
-1
+13
+11

+7
+14
+3
+6

1988
March .............................
June ...............................
September .....................
December ......................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

+17
+5
+4
-36

+18
-35
-22
-63

1989
March .............................
June ...............................
September .....................
December ......................

(NA)
(NA)
5.58
5.66

(NA)
(NA)
5.58
5.62

(NA)
(NA)
5.63
5.54

-18
+11
0
-4

-23
+20
+5
-12

1990
March .............................
June ...............................
September .....................
December ......................

5.84
6.07
6.06
5.55

5.73
6.22
6.04
5.57

5.82
6.26
6.07
5.76

-11
+15
-2
+2

-2
+19
+1
+21

1991
March .............................
June ...............................
September .....................
December ......................

5.80
5.60
5.68
5.58

6.01
5.41
5.71
5.51

5.91
5.43
5.71
5.60

+21
-19
+3
-7

+11
-17
+3
+2

1992
March .............................
June ...............................
September .....................
December ......................

5.88
6.08
5.33
5.68

5.77
6.04
5.26
5.70

5.76
5.83
5.23
5.68

-11
-4
-7
+2

-12
-25
-10
0

1993
March .............................
June ...............................
September .....................
December ......................

5.84
6.50
6.08
6.98

5.88
6.56
5.98
7.22

5.93
7.02
5.93
7.08

+4
+6
-10
+24

+9
+52
-15
+10

See footnote(s) at end of table.

20

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Soybean Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1994
March ............................
June ..............................
September .....................
December ......................

6.83
6.56
5.27
5.59

6.54
6.55
5.24
5.56

6.58
6.13
5.14
5.51

-29
-1
-3
-3

-25
-43
-13
-8

1995
March ............................
June ..............................
September .....................
December ......................

5.68
5.79
6.27
7.41

5.69
5.70
6.28
7.31

5.77
6.09
6.17
7.39

+1
-9
+1
-10

+9
+30
-10
-2

1996
March ............................
June ..............................
September .....................
December ......................

7.35
7.55
7.86
6.94

7.46
7.73
7.51
7.20

7.57
7.75
7.19
7.39

+11
+18
-35
+26

+22
+20
-67
+45

1997
March ............................
June ..............................
September .....................
December ......................

8.47
7.99
6.26
6.54

8.46
7.62
6.20
6.63

8.31
7.20
6.38
6.67

-1
-37
-6
+9

-16
-79
+12
+13

1998
March ............................
June ..............................
September .....................
December ......................

6.48
6.12
5.10
5.34

6.44
6.30
4.93
5.24

6.36
6.29
5.00
5.15

-4
+18
-17
-10

-12
+17
-10
-19

1999
March ............................
June ..............................
September .....................
December ......................

4.83
4.38
4.66
4.60

4.68
4.41
4.61
4.62

4.64
4.02
4.56
4.85

-15
+3
-5
+2

-19
-36
-10
+25

2000
March ............................
June ..............................
September .....................
December ......................

5.19
4.89
4.68
4.79

5.23
4.81
4.58
4.66

5.14
4.71
4.66
4.55

+4
-8
-10
-13

-5
-18
-2
-24

2001
March ............................
June ..............................
September .....................
December ......................

4.28
4.60
4.44
4.20

4.19
4.80
4.32
4.30

4.32
4.90
4.39
4.39

-9
+20
-12
+10

+4
+30
-5
+19

2002
March ............................
June ..............................
September .....................
December ......................

4.69
5.24
5.64
5.66

4.71
5.37
5.40
5.42

4.56
5.67
5.32
5.38

+2
+13
-24
-24

-13
+43
-32
-28

2003
March ............................
June ..............................
September .....................
December ......................

5.80
6.30
6.69
7.80

5.74
6.21
6.62
8.09

5.91
6.19
6.66
8.17

-6
-9
-7
+29

+11
-11
-3
+37

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

21

Soybean Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2004
March .............................
June ...............................
September .....................
December ......................

10.18
9.01
5.06
5.37

9.96
8.95
4.98
5.26

10.08
9.42
4.98
5.07

-22
-6
-8
-11

-10
+41
-8
-30

2005
March .............................
June ...............................
September .....................
December ......................

6.28
6.53
5.15
5.55

6.12
6.34
5.15
5.42

6.03
6.80
5.06
5.44

-16
-19
0
-13

-25
+27
-9
-11

2006
March .............................
June ...............................
September .....................
December ......................

5.63
5.52
5.19
6.37

5.43
5.60
5.04
6.76

5.39
5.75
5.21
6.75

-20
+8
-15
+39

-24
+23
+2
+38

2007
March .............................
June ...............................
September .....................
December ......................

7.37
7.56
9.40
11.88

7.21
7.92
9.19
12.15

7.20
7.92
8.75
11.96

-16
+36
-21
+27

-17
+36
-65
+8

2008
March .............................
June ...............................
September .....................
December ......................

11.80
15.37
10.38
9.94

11.02
15.50
9.76
9.24

12.24
15.27
8.61
9.50

-78
+13
-62
-70

+44
-10
-177
-44

2009
March .............................
June ...............................
September .....................
December ......................

9.02
12.23
9.22
9.72

9.49
12.25
9.27
9.43

9.90
12.02
9.21
9.08

+47
+2
+5
-29

+88
-21
-1
-64

2010
March .............................
June ...............................
September .....................
December ......................

9.55
9.48
10.68
13.29

9.22
9.46
10.71
13.85

9.24
9.55
10.23
13.81

-33
-2
+3
+56

-31
+7
-45
+52

2011
March .............................
June ...............................
September .....................
December ......................

13.36
13.26
11.68
11.77

13.73
12.99
11.21
11.58

13.49
13.24
11.15
11.62

+37
-27
-47
-19

+13
-2
-53
-15

2012
March .............................
June ...............................
September .....................
December ......................

13.51
14.77
15.37
13.80

13.98
15.21
15.64
13.71

14.30
16.29
15.27
14.29

+47
+44
+27
-9

+79
+152
-10
+49

See footnote(s) at end of table.

22

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Soybean Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2013
March ............................
June ..............................
September .....................
December ......................

14.69
15.27
(NA)
12.67

14.25
15.82
(NA)
12.72

14.05
15.89
(NA)
13.11

-44
+55
(NA)
+5

-64
+62
(NA)
+44

2014
March ............................
June ..............................
September .....................
December ......................

14.31
14.38
8.78
10.32

14.60
14.04
8.56
9.97

14.66
13.65
9.05
9.76

+29
-34
-22
-35

+35
-73
+27
-56

2015
March ............................
June ..............................
September .....................
December ......................

9.67
10.04
8.66
8.51

9.73
10.58
8.77
8.65

9.71
10.27
8.69
8.69

+6
+54
+11
+14

+4
+23
+3
+18

2016
March ............................
June ..............................
September .....................
December ......................

8.93
11.36
9.11
9.71

8.89
11.66
9.18
10.08

8.89
11.00
9.30
10.35

-4
+30
+7
+37

-4
-36
+19
+64

2017
March ............................
June ..............................
September .....................
December ......................

9.36
9.00
8.93
9.12

9.17
9.28
8.88
9.22

9.13
9.61
9.09
9.36

-19
+28
-5
+10

-23
+61
+16
+24

2018
March ............................
June ..............................
September .....................
December ......................

9.56
8.36
7.70
8.49

9.82
8.36
7.59
8.48

9.54
8.16
7.81
8.38

+26
0
-11
-1

-2
-20
+11
-11

2019 ..............................
March ............................
June ..............................
September .....................
December ......................

8.26
8.50
8.28
9.12

8.25
8.64
8.51
9.14

8.45
8.58
8.70
8.93

-1
+14
+23
+2

+19
+8
+42
-19

2020
March ............................
June ..............................
September .....................
December ......................

8.44
8.72
9.80
13.53

8.49
8.88
10.10
14.00

8.45
9.04
10.29
14.01

+5
+16
+30
+47

+1
+32
+49
+48

2021
March ............................
June ..............................
September .....................
December ......................

13.58
13.54
12.23
13.62

14.30
14.44
11.95
13.75

14.10
13.60
12.05
13.37

+72
+90
-28
+13

+52
+6
-18
-25

2022
March ............................
June ..............................
September .....................
December ......................

16.52
16.74
13.75
14.72

16.02
16.72
13.14
14.97

16.00
15.61
12.91
15.07

-50
-2
-61
+25

-52
-113
-84
+35

(NA) Not available.
1
Average prices paid at Southern Iowa points by processors, except for March 2010 and March 2020 which used average prices paid at Northern
Iowa points by processors, as reported by AMS Grain Market News.
2
The price change is indicated by the difference between the prior closing price and the price for the day or week after each report.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

23

Wheat Price Changes Following Crop Production Reports – United States: 1987-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1987
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

(NA)
(NA)
(NA)
2.59
2.84
2.84
3.22

(NA)
(NA)
(NA)
2.66
2.83
2.82
3.22

(NA)
(NA)
(NA)
2.69
2.81
2.90
3.18

-2
+4
-1
+7
-1
-2
0

-36
+6
-8
+10
-3
+6
-4

1988
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

3.05
3.59
3.78
3.77
4.03
4.25
4.38

3.09
3.74
3.94
3.72
4.09
4.22
4.29

3.21
3.83
3.81
3.81
3.95
4.15
4.45

+4
+15
+16
-5
+6
-3
-9

+16
+24
+3
+4
-8
-10
+7

1989
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

4.61
4.40
4.25
4.21
4.21
4.22
4.34

4.61
4.47
4.27
4.25
4.14
4.20
4.32

4.55
4.41
4.27
4.28
4.09
4.33
4.33

0
+7
+2
+4
-7
-2
-2

-6
+1
+2
+7
-12
+11
-1

1990
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

3.89
3.81
3.08
2.98
2.86
2.80
2.69

3.78
3.77
3.11
2.93
2.82
2.77
2.65

3.76
3.43
3.05
2.92
2.78
2.74
2.69

-11
-4
+3
-5
-4
-3
-4

-13
-38
-3
-6
-8
-6
0

1991
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

3.00
3.00
2.80
3.07
3.29
3.50
4.23

3.04
3.03
2.86
3.10
3.30
3.56
4.26

3.02
2.97
2.85
2.94
3.36
3.60
4.38

+4
+3
+6
+3
+1
+6
+3

+2
-3
+5
-13
+7
+10
+15

1992
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

3.93
4.22
3.49
3.16
3.51
3.53
3.84

3.92
4.12
3.48
3.19
3.45
3.49
3.91

3.84
3.74
3.52
3.21
3.57
3.62
4.09

-1
-10
-1
+3
-6
-4
+7

-9
-48
+3
+5
+6
+9
+25

1993
May ................................
June ...............................
July ................................
August ...........................
September .....................
October ..........................
Annual ...........................

3.48
3.48
3.12
3.20
3.22
3.34
3.92

3.65
3.48
3.07
3.14
3.19
3.34
3.94

3.52
3.16
3.23
3.24
3.25
3.38
3.77

+17
0
-5
-6
-3
0
+2

+4
-32
+11
+4
+3
+4
-15

See footnote(s) at end of table.

24

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Wheat Price Changes Following Crop Production Reports – United States: 1987-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1994
May ........................
June .......................
July .........................
August ....................
Annual ....................

3.61
3.68
3.38
3.55
4.00

3.58
3.66
3.43
3.58
3.98

3.54
3.69
3.46
3.70
4.16

-3
-2
+5
+3
-2

-7
+1
+8
+15
+16

1995
May ........................
June .......................
July .........................
August ....................
Annual ....................

4.07
4.36
4.59
4.61
4.98

4.10
4.31
4.65
4.70
5.05

4.07
4.42
4.88
4.54
5.01

+3
-5
+6
+9
+7

0
+6
+29
-7
+3

1996
May ........................
June .......................
July .........................
August ....................
Annual ....................

7.23
6.27
5.64
5.02
4.77

7.44
6.16
5.56
5.13
4.75

7.03
6.03
5.33
4.92
4.67

+21
-11
-8
+11
-2

-20
-24
-31
-10
-10

1997
May ........................
June .......................
July .........................
August ....................
Annual ....................

4.56
4.28
3.34
3.76
3.63

4.48
4.17
3.36
3.74
3.59

4.64
3.92
3.43
3.69
3.61

-8
-11
+2
-2
-4

+8
-36
+9
-7
-2

1998
May ........................
June .......................
July .........................
August ....................
Annual ....................

3.21
2.98
2.95
2.72
2.88

3.23
3.00
2.93
2.68
2.83

3.25
3.06
2.88
2.66
2.94

+2
+2
-2
-4
-5

+4
+8
-7
-6
+6

1999
May ........................
June .......................
July .........................
August ....................
Annual ....................

2.76
2.85
2.40
2.65
2.81

2.84
2.79
2.39
2.57
2.71

2.78
2.69
2.38
2.67
2.62

+8
-6
-1
-8
-10

+2
-16
-2
+2
-19

2000
May ........................
June .......................
July .........................
August ....................
Annual ....................

2.78
2.74
2.94
2.64
3.18

2.80
2.76
2.93
2.65
3.27

2.69
2.73
2.79
2.72
3.27

+2
+2
-1
+1
+9

-9
-1
-15
+8
+9

2001
May ........................
June .......................
July .........................
August ....................
Annual ....................

3.34
3.27
3.01
3.03
3.12

3.42
3.29
3.03
3.03
3.10

3.50
3.24
3.16
3.03
3.04

+8
+2
+2
0
-2

+16
-3
+15
0
-8

2002
May ........................
June .......................
July .........................
August ....................
Annual ....................

3.10
3.40
3.83
4.15
5.08

3.08
3.48
3.83
4.23
5.12

3.11
3.54
3.93
4.22
5.05

-2
+8
0
+8
+4

+1
+14
+10
+7
-3

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

25

Wheat Price Changes Following Crop Production Reports – United States: 1987-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2003
May .........................
June ........................
July .........................
August ....................
Annual ....................

3.81
3.89
2.99
3.62
3.66

3.91
3.84
3.02
3.70
3.70

3.95
3.36
3.16
3.97
3.57

+10
-5
+3
+8
+4

+14
-53
+17
+35
-9

2004
May .........................
June ........................
July .........................
August ....................
Annual ....................

4.14
4.01
3.84
3.53
3.90

4.08
3.94
3.89
3.47
3.79

4.03
3.92
3.95
3.48
3.73

-6
-7
+5
-6
-11

-11
-9
+11
-5
-17

2005
May .........................
June ........................
July .........................
August ....................
Annual ....................

3.57
3.62
3.73
3.81
4.38

3.54
3.62
3.71
3.84
4.48

3.60
3.71
3.88
3.90
4.50

-3
0
-2
+3
+10

+3
+9
+15
+9
+12

2006
May .........................
June ........................
July .........................
August ....................
Annual ....................

4.96
5.08
5.42
4.85
5.21

5.05
5.03
5.34
4.76
5.21

5.30
4.88
5.05
4.72
5.30

+9
-5
-8
-9
0

+34
-20
-37
-13
+9

2007
May .........................
June ........................
July .........................
August ....................
Annual ....................

5.37
5.80
6.07
6.55
9.00

5.42
6.10
6.11
6.50
9.07

5.44
6.51
6.01
6.48
8.88

+5
+30
+4
-5
+7

+7
+71
-6
-7
-12

2008
May .........................
June ........................
July .........................
August ....................
Annual ....................

9.13
8.46
8.54
8.08
6.70

8.96
8.67
8.70
8.10
6.77

8.72
9.26
8.39
8.73
5.93

-17
+21
+16
+2
+7

-41
+80
-15
+65
-77

2009
May .........................
June ........................
July .........................
August ....................
Annual ....................

6.30
6.73
5.28
4.90
4.24

6.34
6.55
5.24
4.94
4.37

6.40
6.30
5.37
4.74
4.41

+4
-18
-4
+4
+13

+10
-43
+9
-16
+17

2010
May .........................
June ........................
July .........................
August ....................
Annual ....................

4.53
3.98
5.02
6.40
6.37

4.55
4.03
4.93
6.60
6.28

4.40
4.30
5.21
6.40
6.48

+2
+5
-9
+20
-9

-13
+32
+19
0
+11

2011
May .........................
June ........................
July .........................
August ....................
Annual ....................

9.26
8.85
7.41
7.92
7.57

8.97
8.71
7.63
8.23
7.21

8.88
8.19
7.91
8.42
7.15

-29
-14
+22
+31
-36

-38
-66
+50
+50
-42

See footnote(s) at end of table.

26

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Wheat Price Changes Following Crop Production Reports – United States: 1987-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2012
May ........................
June .......................
July .........................
August ....................
Annual ....................

6.64
7.10
8.26
9.40
9.03

6.63
7.04
8.35
9.18
9.53

7.02
7.19
8.97
9.08
9.12

-1
-6
+9
-22
+50

+38
+9
+71
-32
+9

2013
May ........................
June .......................
July .........................
August ....................
Annual ....................

8.50
8.05
7.84
7.67
(NA)

8.30
7.92
7.84
7.70
(NA)

8.15
7.94
7.78
7.83
(NA)

-20
-13
0
+3
(NA)

-35
-11
-6
+16
(NA)

2014
May ........................
June .......................
July .........................
August ....................
Annual ....................

9.48
8.11
7.57
7.14
6.87

9.33
7.94
7.46
7.03
6.78

8.84
8.23
7.59
7.08
7.11

-15
-17
-11
-11
-9

-64
+12
+2
-6
+24

2015
May ........................
June .......................
July .........................
August ....................
Annual ....................

5.91
6.38
6.64
5.68
5.41

5.90
6.21
6.52
5.55
5.48

6.45
5.97
6.33
5.56
5.62

-1
-17
-12
-13
+7

+54
-41
-31
-12
+21

2016
May ........................
June .......................
July .........................
August ....................
Annual ....................

4.85
5.29
4.01
3.77
4.05

4.87
5.14
4.07
3.91
4.04

4.93
4.83
3.85
3.96
3.93

+2
-15
+6
+14
-1

+8
-46
-16
+19
-12

2017
May ........................
June .......................
July .........................
August ....................
Annual ....................

4.34
4.49
5.64
4.71
4.63

4.34
4.46
5.51
4.55
4.53

4.20
4.66
5.10
4.26
4.44

0
-3
-13
-16
-10

-14
+17
-54
-45
-19

2018
May ........................
June .......................
July .........................
August ....................
Annual ....................

6.13
6.30
5.51
6.64
5.82

6.08
6.50
5.58
6.45
5.76

6.01
5.96
5.73
6.48
5.87

-5
+20
+7
-19
-6

-12
-34
+22
-16
+5

2019
May ........................
June .......................
July .........................
August ....................
Annual ....................

5.13
5.78
5.34
5.12
4.88

5.02
5.82
5.53
4.87
4.95

5.27
5.76
5.27
4.96
4.84

-11
+4
+19
-25
+7

+14
-2
-7
-16
-4

2020
May ........................
June .......................
July .........................
August ....................
Annual ....................

5.51
5.34
5.42
5.07
5.66

5.59
5.34
5.37
5.08
6.00

5.36
5.04
5.39
5.20
6.24

+8
0
-5
+1
+34

-15
-30
-3
+13
+58

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

27

Wheat Price Changes Following Crop Production Reports – United States: 1985-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2021
May .........................
June ........................
July .........................
August ....................
Annual ....................

8.66
7.56
6.80
8.01
8.12

8.46
7.60
7.01
8.30
8.32

8.03
7.31
7.38
8.19
8.45

-20
+4
+21
+29
+20

-63
-25
+58
+18
+33

2022
May .........................
June ........................
July .........................
August ....................
Annual ....................

14.76
13.19
10.50
10.49
11.22

14.90
13.08
10.03
10.54
11.67

15.15
12.99
10.05
9.75
11.30

+14
-11
-47
+5
+45

+39
-20
-45
-74
+8

(NA) Not available.
1
Closing cash price for Kansas City #1 hard winter wheat (ordinary protein) reported by AMS Grain Market News.
2
The price change is indicated by the difference between the prior closing price and the price for the day or week after each report.

28

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Wheat Price Changes Following Grain Stocks Reports – United States: 1984-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1984
January .........................
April ...............................
June ..............................
October .........................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

0
-3
-2
+2

-4
-8
-8
-2

1985
January .........................
April ...............................
June ..............................
October .........................

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)

+1
0
0
-1

-6
-8
-5
0

1986
January .........................
April ...............................
June ..............................
September .....................
December ......................

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

(NA)
(NA)
(NA)
(NA)
(NA)

+3
+13
-2
0
+1

+9
-18
-7
-6
+3

1987
March ............................
June ..............................
September .....................
December ......................

(NA)
(NA)
2.73
3.22

(NA)
(NA)
2.79
3.22

(NA)
(NA)
2.78
3.18

-2
+1
+6
0

+3
+8
+5
-4

1988
March ............................
June ..............................
September .....................
December ......................

3.08
3.85
4.04
4.38

3.06
3.97
4.09
4.29

3.13
3.82
4.22
4.45

-2
+12
+5
-9

+5
-3
+18
+7

1989
March ............................
June ..............................
September .....................
December ......................

4.41
4.36
4.15
4.34

4.40
4.31
4.21
4.32

4.30
4.37
4.24
4.33

-1
-5
+6
-2

-11
+1
+9
-1

1990
March ............................
June ..............................
September .....................
December ......................

4.03
3.32
2.83
2.69

4.05
3.26
2.86
2.65

4.08
3.24
2.85
2.69

+2
-6
+3
-4

+5
-8
+2
0

1991
March ............................
June ..............................
September .....................
December ......................

2.97
2.88
3.39
4.23

3.03
2.91
3.45
4.26

2.97
2.82
3.52
4.38

+6
+3
+6
+3

0
-6
+13
+15

1992
March ............................
June ..............................
September .....................
December ......................

4.32
3.69
3.67
3.84

4.19
3.65
3.68
3.91

4.12
3.56
3.57
4.09

-13
-4
+1
+7

-20
-13
-10
+25

1993
March ............................
June ..............................
September .....................
December ......................

3.74
2.97
3.26
3.92

3.75
3.03
3.24
3.94

3.65
3.18
3.31
3.77

+1
+6
-2
+2

-9
+21
+5
-15

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

29

Wheat Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

1994
March .............................
June ...............................
September .....................
December ......................

3.45
3.39
4.00
4.03

3.48
3.40
3.98
4.02

3.56
3.35
4.16
3.97

+3
+1
-2
-1

+11
-4
+16
-6

1995
March .............................
June ...............................
September .....................
December ......................

3.78
5.11
4.98
5.25

3.75
5.08
5.05
5.19

3.73
4.82
5.01
5.13

-3
-3
+7
-6

-5
-29
+3
-12

1996
March .............................
June ...............................
September .....................
December ......................

5.59
5.72
4.77
4.51

5.68
5.63
4.75
4.52

5.88
5.46
4.67
4.57

+9
-9
-2
+1

+29
-26
-10
+6

1997
March .............................
June ...............................
September .....................
December ......................

4.59
3.48
3.63
3.42

4.53
3.39
3.59
3.53

4.32
3.34
3.61
3.54

-6
-9
-4
+11

-27
-14
-2
+12

1998
March .............................
June ...............................
September .....................
December ......................

3.42
2.97
2.88
3.20

3.38
3.03
2.83
3.16

3.26
2.97
2.94
3.05

-4
+6
-5
-4

-16
0
+6
-15

1999
March .............................
June ...............................
September .....................
December ......................

3.09
2.67
2.81
2.64

2.97
2.63
2.71
2.66

2.97
2.46
2.62
2.70

-12
-4
-10
+2

-12
-21
-19
+6

2000
March .............................
June ...............................
September .....................
December ......................

2.64
2.98
3.18
3.50

2.71
2.89
3.27
3.52

2.65
2.78
3.27
3.43

+7
-9
+9
+2

+1
-20
+9
-7

2001
March .............................
June ...............................
September .....................
December ......................

3.25
3.03
3.12
3.20

3.18
3.06
3.10
3.23

3.25
3.06
3.04
3.26

-7
+3
-2
+3

0
+3
-8
+6

2002
March .............................
June ...............................
September .....................
December ......................

3.22
3.63
5.08
4.15

3.19
3.59
5.12
3.96

3.29
3.74
5.05
3.93

-3
-4
+4
-19

+7
+11
-3
-22

2003
March .............................
June ...............................
September .....................
December ......................

3.68
3.12
3.66
4.20

3.78
3.06
3.70
4.38

3.78
2.98
3.57
4.30

+10
-6
+4
+18

+10
-14
-9
+10

See footnote(s) at end of table.

30

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Wheat Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2004
March ............................
June ..............................
September .....................
December ......................

4.46
3.81
3.90
4.05

4.40
3.79
3.79
4.07

4.44
3.83
3.73
4.02

-6
-2
-11
+2

-2
+2
-17
-3

2005
March ............................
June ..............................
September .....................
December ......................

3.72
3.73
4.38
4.34

3.71
3.60
4.48
4.42

3.58
3.75
4.50
4.27

-1
-13
+10
+8

-14
+2
+12
-7

2006
March ............................
June ..............................
September .....................
December ......................

4.46
5.28
5.21
5.06

4.54
5.29
5.21
5.30

4.63
5.36
5.30
5.20

+8
+1
0
+24

+17
+8
+9
+14

2007
March ............................
June ..............................
September .....................
December ......................

5.22
6.17
9.00
8.99

5.07
6.05
9.07
9.29

5.19
6.09
8.88
10.00

-15
-12
+7
+30

-3
-8
-12
+101

2008
March ............................
June ..............................
September .....................
December ......................

10.52
9.20
6.70
6.71

9.95
8.91
6.77
6.15

10.64
8.55
5.93
6.29

-57
-29
+7
-56

+12
-65
-77
-42

2009
March ............................
June ..............................
September .....................
December ......................

5.72
5.80
4.24
5.35

5.90
5.55
4.37
5.03

6.20
5.27
4.41
4.75

+18
-25
+13
-32

+48
-53
+17
-60

2010
March ............................
June ..............................
September .....................
December ......................

4.52
4.13
6.37
7.86

4.34
4.45
6.28
8.00

4.54
4.71
6.48
8.25

-18
+32
-9
+14

+2
+58
+11
+39

2011
March ............................
June ..............................
September .....................
December ......................

8.14
7.85
7.57
7.62

8.60
7.28
7.21
7.33

8.92
7.68
7.15
7.18

+46
-57
-36
-29

+78
-17
-42
-44

2012
March ............................
June ..............................
September .....................
December ......................

6.89
7.70
9.03
8.62

7.32
7.60
9.53
8.72

6.97
8.47
9.12
9.02

+43
-10
+50
+10

+8
+77
+9
+40

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

31

Wheat Price Changes Following Grain Stocks Reports – United States: 1984-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(dollars per bushel)

(dollars per bushel)

(dollars per bushel)

(cents per bushel)

(cents per bushel)

2013
March .............................
June ...............................
September .....................
December ......................

8.34
7.77
(NA)
7.44

7.87
7.67
(NA)
7.31

8.00
7.70
(NA)
7.35

-47
-10
(NA)
-13

-34
-7
(NA)
-9

2014
March .............................
June ...............................
September .....................
December ......................

8.89
8.37
6.87
6.86

8.89
8.15
6.78
6.76

8.49
8.07
7.11
6.69

0
-22
-9
-10

-40
-30
+24
-17

2015
March .............................
June ...............................
September .....................
December ......................

6.71
6.68
5.41
5.33

6.54
6.96
5.48
5.51

6.67
6.78
5.62
5.44

-17
+28
+7
+18

-4
+10
+21
+11

2016
March .............................
June ...............................
September .....................
December ......................

5.09
4.30
4.05
4.34

5.19
4.14
4.04
4.55

5.04
3.99
3.93
4.62

+10
-16
-1
+21

-5
-31
-12
+28

2017
March .............................
June ...............................
September .....................
December ......................

4.07
4.84
4.63
5.25

4.10
5.14
4.53
5.11

4.03
5.54
4.44
5.24

+3
+30
-10
-14

-4
+70
-19
-1

2018
March .............................
June ...............................
September .....................
December ......................

5.31
5.49
5.82
6.06

5.37
5.66
5.76
6.04

5.56
5.80
5.87
5.92

+6
+17
-6
-2

+25
+31
+5
-14

2019
March .............................
June ...............................
September .....................
December ......................

5.61
5.74
4.88
5.80

5.57
5.54
4.95
5.80

5.66
5.36
4.84
5.70

-4
-20
+7
0

+5
-38
-4
-10

2020
March .............................
June ...............................
September .....................
December ......................

5.87
5.06
5.66
7.04

5.83
5.13
6.00
7.36

5.65
5.11
6.24
7.56

-4
+7
+34
+32

-22
+5
+58
+52

2021
March .............................
June ...............................
September .....................
December ......................

6.84
7.39
8.12
10.77

7.01
7.45
8.32
9.63

6.86
6.70
8.45
9.44

+17
+6
+20
-114

+2
-69
+33
-133

2022
March .............................
June ...............................
September .....................
December ......................

13.15
11.69
11.22
9.57

13.00
11.30
11.67
9.70

13.35
10.17
11.30
9.92

-15
-39
+45
+13

+20
-152
+8
+35

(NA) Not available.
1
Closing cash price for Kansas City #1 hard winter wheat (ordinary protein) reported by AMS Grain Market News.
2
The price change is indicated by the difference between the prior closing price and the price for the day or week after each report.

32

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Upland Cotton Price Changes Following Crop Production Reports – United States: 1989-2022
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(cents per pound)

(cents per pound)

(cents per pound)

(points per pound)

(points per pound)

1989
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

70.23
67.41
69.71
70.78
62.99
62.18

70.04
68.84
70.29
68.15
63.71
62.21

68.81
69.44
68.34
68.21
62.84
62.43

-19
+143
+58
-263
+72
+3

-142
+203
-137
-257
-15
+25

1990
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

78.86
70.79
70.28
69.55
70.42
69.80

79.93
70.44
70.52
69.12
69.79
69.68

72.68
71.39
70.22
69.64
69.76
70.84

+107
-35
+24
-43
-63
-12

-618
+60
-6
+9
-66
+104

1991
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

66.46
62.48
58.39
54.41
54.00
52.36

64.46
62.21
58.76
53.76
54.14
50.91

65.69
61.35
58.03
55.14
54.18
51.29

-200
-27
+37
-65
+14
-145

-77
-113
-36
+73
+18
-107

1992
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

57.57
54.07
50.40
49.55
52.86
53.91

56.59
55.09
49.61
49.11
52.50
54.02

56.69
56.29
50.69
50.22
51.33
54.46

-98
+102
-79
-44
-36
+11

-88
+222
+29
+67
-153
+55

1993
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

52.70
53.25
55.58
53.61
59.62
65.18

51.48
54.69
54.66
54.55
59.10
64.91

52.44
53.96
53.76
55.74
60.09
66.89

-122
+144
-92
+94
-52
-27

-26
+71
-182
+213
+47
+171

1994
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

71.50
73.46
66.86
71.06
81.14
87.19

71.23
73.23
67.14
70.25
81.07
88.56

68.13
71.06
67.80
72.50
82.31
88.84

-27
-23
+28
-81
-7
+137

-337
-240
+94
+144
+117
+165

1995
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

80.69
87.61
86.06
83.33
84.51
81.21

81.86
89.04
84.74
82.52
83.39
80.66

85.75
92.99
81.68
85.75
81.75
79.64

+117
+143
-132
-81
-112
-55

+506
+538
-438
+242
-276
-157

1996
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

73.61
73.96
73.71
68.87
72.30
70.15

76.29
76.07
71.57
68.00
72.61
69.69

75.41
74.32
70.95
70.48
71.99
70.54

+268
+211
-214
-87
+31
-46

+180
+36
-276
+161
-31
+39

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

33

Upland Cotton Price Changes Following Crop Production Reports – United States:
1989-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(cents per pound)

(cents per pound)

(cents per pound)

(points per pound)

(points per pound)

1997
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

71.29
70.43
69.26
70.05
64.75
63.64

72.35
71.40
69.49
69.93
64.45
62.74

71.36
71.17
69.41
68.58
63.64
62.48

+106
+97
+23
-12
-30
-90

+7
+74
+15
-147
-111
-116

1998
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

69.99
71.39
71.18
67.89
61.10
56.21

71.39
71.79
69.52
67.39
60.08
56.06

72.84
71.47
66.64
64.14
59.32
56.24

+140
+40
-166
-50
-102
-15

+285
+8
-454
-375
-178
+3

1999
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

50.00
48.28
47.19
48.17
46.79
50.47

51.11
49.05
48.77
47.84
46.89
51.02

51.43
48.04
50.94
47.34
45.95
51.72

+111
+77
+158
-33
+10
+55

+143
-24
+375
-83
-84
+125

2000
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

57.97
61.82
61.11
62.86
62.98
56.09

58.88
60.45
61.61
61.97
61.10
56.49

59.68
60.24
58.98
61.76
60.57
57.19

+91
-137
+50
-89
-188
+40

+171
-158
-213
-110
-241
+110

2001
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

37.04
33.71
29.09
29.50
31.78
32.68

35.04
33.00
29.01
29.99
32.61
32.35

35.43
32.66
28.20
31.87
33.04
33.33

-200
-71
-8
+49
+83
-33

-161
-105
-89
+237
+126
+65

2002
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

38.64
38.08
38.49
44.91
44.87
48.11

39.74
36.88
37.89
44.16
46.52
48.46

39.04
38.00
39.17
45.51
46.29
48.91

+110
-120
-60
-75
+165
+35

+40
-8
+68
+60
+142
+80

2003
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

51.93
56.14
64.89
71.18
63.65
68.23

50.99
59.00
66.14
68.47
63.96
68.29

51.07
60.14
69.10
68.56
64.23
68.80

-94
+286
+125
-271
+31
+6

-86
+400
+421
-262
+58
+57

2004
August ...........................
September .....................
October ..........................
November ......................
December ......................
Annual ...........................

43.16
49.36
44.09
42.16
41.40
43.29

41.19
48.07
42.35
42.81
40.94
43.60

45.25
45.44
44.48
43.40
42.11
43.40

-197
-129
-174
+65
-46
+31

+209
-392
+39
+124
+71
+11

See footnote(s) at end of table.

34

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Upland Cotton Price Changes Following Crop Production Reports – United States:
1989-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(cents per pound)

(cents per pound)

(cents per pound)

(points per pound)

(points per pound)

2005
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

44.49
47.39
51.41
48.22
49.11
51.52

44.31
47.07
52.25
47.89
49.09
51.60

44.19
45.81
52.09
48.61
49.36
51.19

-18
-32
+84
-33
-2
+8

-30
-158
+68
+39
+25
-33

2006
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

49.63
46.00
44.34
46.01
48.02
49.42

48.67
46.74
44.66
46.24
49.14
49.96

48.11
47.84
44.34
46.76
50.11
49.88

-96
+74
+32
+23
+112
+54

-152
+184
0
+75
+209
+46

2007
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

55.21
54.75
58.56
60.78
58.64
61.65

54.21
55.79
58.69
60.74
58.27
64.08

50.34
58.32
60.04
59.95
59.64
65.80

-100
+104
+13
-4
-37
+243

-487
+357
+148
-83
+100
+415

2008
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

60.76
56.96
48.03
39.16
40.60
44.91

61.16
57.41
46.24
38.35
41.44
42.30

58.94
54.97
46.12
38.97
42.86
44.68

+40
+45
-179
-81
+84
-261

-182
-199
-191
-19
+226
-23

2009
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

56.89
54.10
58.46
63.29
67.80
67.74

56.74
54.33
58.01
64.54
67.30
66.71

52.08
58.34
61.92
65.48
69.43
64.93

-15
+23
-45
+125
-50
-103

-481
+424
+346
+219
+163
-281

2010
August ...........................
September .....................
October .........................
November ......................
December ......................
Annual ...........................

81.01
86.84
99.07
142.84
131.57
140.87

83.39
87.19
106.66
147.84
132.62
141.05

84.01
90.81
110.87
134.12
141.26
138.56

+238
+35
+759
+500
+105
+18

+300
+397
+1180
-872
+969
-231

2011
August ...........................
September .....................
October .........................
November ......................
December ......................
January 3 .......................
Annual 3 .........................

99.76
107.36
99.51
94.80
89.25
90.26
78.41

96.42
107.66
96.26
94.38
87.66
89.06
74.41

106.66
105.84
97.02
99.26
83.06
90.66
69.69

-334
+30
-325
-42
-159
-120
-400

+690
-152
-249
+446
-619
+40
-872

See footnote(s) at end of table.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

--continued

35

Upland Cotton Price Changes Following Crop Production Reports – United States:
1989-2022 (continued)
Price 1
Date

Price change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(cents per pound)

(cents per pound)

(cents per pound)

(points per pound)

(points per pound)

2012
August ...........................
September .....................
October ..........................
November ......................
December ......................
January ..........................
Annual ...........................

71.42
70.24
66.93
65.11
69.11
70.86
82.94

68.71
68.84
65.54
63.41
70.46
71.01
81.49

68.12
70.84
72.97
69.54
71.43
73.13
81.06

-271
-140
-139
-170
+135
+15
-145

-330
+60
+604
+443
+232
+227
-188

2013
August ...........................
September .....................
October ..........................
November ......................
December ......................
January ..........................
Annual ...........................

84.96
81.36
(NA)
74.33
77.15
79.40
85.93

85.97
82.41
(NA)
74.41
77.53
79.17
85.22

89.14
82.06
(NA)
73.87
80.09
82.46
83.29

+101
+105
(NA)
+8
+38
-23
-71

+418
+70
(NA)
-46
+294
+306
-264

2014
August ...........................
September .....................
October ..........................
November ......................
December ......................
January ..........................
Annual ...........................

64.63
69.10
63.85
62.76
58.56
59.36
63.21

63.06
69.64
63.96
61.24
58.34
58.41
62.87

63.14
64.91
63.26
57.95
58.77
58.13
63.05

-157
+54
+11
-152
-22
-95
-34

-149
-419
-59
-481
+21
-123
-16

2015
August ...........................
September .....................
October ..........................
November ......................
December ......................
January ..........................
Annual ...........................

59.36
60.54
60.09
60.43
63.06
60.43
59.41

62.46
61.42
59.94
60.45
63.40
60.49
59.11

64.45
60.21
61.67
61.04
61.97
60.29
59.53

+310
+88
-15
+2
+34
+6
-30

+509
-33
+158
+61
-109
-14
+12

2016
August ...........................
September .....................
October ..........................
November ......................
December ......................
January ..........................
Annual ...........................

69.66
67.66
66.10
68.07
70.48
71.49
73.89

68.24
65.80
67.91
67.74
69.75
70.92
74.06

66.89
66.49
69.82
69.89
70.80
70.90
81.76

-142
-186
+181
-33
-73
-57
+17

-277
-117
+372
+182
+32
-59
+787

2017
August ...........................
September .....................
October ..........................
November ......................
December ......................
January ..........................
Annual ...........................

68.41
72.35
67.06
67.13
70.96
79.96
81.61

69.12
71.79
66.14
66.78
70.90
78.91
80.33

65.52
68.16
65.84
67.33
73.07
79.56
80.32

+71
-56
-92
-35
-6
-105
-128

-289
-419
-122
+20
+211
-40
-129

See footnote(s) at end of table.

36

--continued

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Upland Cotton Price Changes Following Crop Production Reports – United States:
1989-2022 (continued)
[Blank data cells indicate estimation period has not yet begun]
Price 1
Date

Price Change 2

Prior
closing

Day after
report

Week after
report

Day after
report

Week after
report

(cents per pound)

(cents per pound)

(cents per pound)

(points per pound)

(points per pound)

2018
August .........................
September ...................
October .......................
November ....................
December ....................
January .......................
Annual .........................

83.47
79.32
73.19
75.17
75.31
68.24
64.69

82.07
79.05
73.20
75.22
75.45
67.98
62.91

78.34
74.84
74.31
72.68
74.11
66.03
61.26

-140
-27
+1
+5
+14
-26
-178

-513
-448
+112
-249
-120
-221
-343

2019
August .........................
September ...................
October .......................
November ....................
December ....................
January .......................
Annual .........................

53.87
55.66
59.23
61.49
60.88
66.23
51.99

52.85
58.54
58.56
61.65
61.43
66.85
53.91

55.40
57.93
61.68
61.16
62.54
65.76
53.37

-102
+288
-67
+16
+55
+62
+192

+153
+227
+245
-33
+166
-47
+138

2020
August .........................
September ...................
October .......................
November ....................
December ....................
January .......................
Annual .........................

58.39
58.67
61.92
65.89
68.89
76.07
83.57

57.20
58.77
62.10
65.74
69.90
77.34
84.05

57.53
60.24
63.76
66.47
71.36
76.56
79.83

-119
+10
+18
-15
+101
+127
+48

-86
+157
+184
+58
+247
+49
-374

2021
August .........................
September ...................
October .......................
November ....................
December ....................
January .......................
Annual .........................

87.75
90.70
107.39
112.76
104.15
112.70
138.60

89.88
91.41
103.17
115.59
104.02
114.32
140.53

91.63
89.59
103.86
113.69
103.18
117.76
139.47

+213
+71
-422
+283
-13
+162
+193

+388
-111
-353
+93
-97
+506
+87

114.80
110.38
89.72
87.47
79.85
82.87

118.80
111.07
85.78
85.86
79.95
80.65

121.48
101.88
83.15
88.10
80.24
83.42

+400
+69
-394
-161
+10
-222

+668
-850
-657
+63
+39
+55

2022
August .........................
September ...................
October .......................
November ....................
December ....................
January .......................
Annual .........................

(NA) Not available.
1
7-Market average base quotations for Upland cotton as reported by AMS Market News (the Upland cotton base quality is color 41, leaf grade 4,
staple 34).
2
The price change is indicated by the difference between the prior closing price and the price for the day or week after each report.
3
Prior to 2011 "Annual" references the January Crop Production report. Beginning in 2011, "Annual" references the May Crop Production report.

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

37

Information Contacts
Listed below are the commodity statisticians in the Crops Branch of the National Agricultural Statistics Service to contact
for additional information. E-mail inquiries may be sent to [email protected]
Lance Honig, Chief, Crops Branch ....................................................................................................... (202) 720-2127
Chris Hawthorn, Head, Field Crops Section ......................................................................................... (202) 720-2127
Irwin Anolik – Crop Weather........................................................................................................... (202) 720-7621
Joshua Bates – Hemp, Oats, Soybeans ............................................................................................. (202) 690-3234
David Colwell – Current Agricultural Industrial Reports ................................................................ (202) 720-8800
Michelle Harder – Barley, County Estimates, Hay .......................................................................... (202) 690-8533
James Johanson – Rye, Wheat ......................................................................................................... (202) 720-8068
Chris Hawthorn – Corn, Flaxseed, Proso Millet .............................................................................. (202) 720-2127
Becky Sommer – Cotton, Cotton Ginnings, Sorghum ..................................................................... (202) 720-5944
Travis Thorson – Sunflower, Other Oilseeds ................................................................................... (202) 720-7369
Lihan Wei – Peanuts, Rice ............................................................................................................... (202) 720-7688

38

Price Reactions After USDA Crop Reports (March 2023)
USDA, National Agricultural Statistics Service

Access to NASS Reports
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USDA Spring Data Users’ Meeting
Join Us Online or in Omaha
April 18, 2023
Federal Reserve Bank of Kansas City - Omaha Branch
2201 Farnam Street
Omaha, NE 68102
USDA’s National Agricultural Statistics Service (NASS) will hold an open forum for users of U.S. domestic
and international agriculture data. NASS is organizing the 2023 Spring Data Users’ Meeting in cooperation with
five other USDA agencies – Agricultural Marketing Service, Economic Research Service, Farm Service
Agency, Foreign Agricultural Service, and World Agricultural Outlook Board – and the Census Bureau’s
Foreign Trade Division. Agency representatives will provide updates on recent and pending changes in
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input from data users.
For registration details or additional information about the Data Users’ Meeting, see the meeting page on the
NASS website (https://www.nass.usda.gov/Education_and_Outreach/Meeting/index.php).
The Data Users’ Meeting precedes the Industry Outlook Conference at the same location on Wednesday, April
19, 2023. The outlook meeting brings together analysts from various commodity sectors to discuss
developments and trends. For registration details or additional information about the Industry Outlook
Conference, see the conference page on the LMIC website (http://lmic.info/page/meetings).
File Type	application/pdf
File Title	Price Reactions After USDA Crop Reports 03/10/2023
Author	USDA, National Agricultural Statistics Service
File Modified	2023-03-10
File Created	2023-03-10