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USDA's September Crop Production and Supply/Demand reports came in above trade expectations for corn and soybean output. Soybeans closed about 29 cents higher, and wheat and soymeal also rose.
Dec corn finished 7.5 cents higher.
A larger-than-expected U.S. soybean yield and output cut the balance sheet, while the rally lifted related products. Soymeal and soyoil rose with beans, tightening the feed-protein supply outlook.
news.agropages.comSep 13, 2019After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
