Loading…
Corn futures fell 6% to $3.9275 a bushel on August 12 after USDA's August crop report projected larger-than-expected production following a wet spring and dry summer. November soybeans dropped 1.3% as USDA forecast soybean output down 19% from last year.
A larger-than-expected corn crop estimate points to ample feed grain supplies and lower corn prices, while the sharply lower soybean crop supports soybean meal values.
agcanada.comAGCanadaAug 12, 2019
foodbusinessnews.netRon SterkAug 20, 2019
marketwatch.comWilliam L. WattsAug 12, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 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.
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.
Corn futures fell 6% to $3.9275 on the USDA report's larger-than-expected production, a major part of the weekly decline.
Corn futures fell 6% after USDA projected larger-than-expected production, which directly describes the sell-off.
