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The American Farm Bureau estimates U.S. farmers face roughly $3.5 billion in potential corn losses after USDA data showed larger planted area and higher yields than expected, triggering the biggest futures rout since 2013. Trade disputes with China and uncertainty over the USMCA deal add pressure, and EPA waivers for 31 refineries reduce ethanol-related corn demand.
Bigger US corn supplies and weaker ethanol demand point to lower corn prices, while reduced soybean purchases by China weigh on soybean and meal markets.
farmprogress.comBloombergAug 13, 2019After 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
