◂ Event Timeline

Aug 12, 2019REPORTUS

USDA trims corn, soybean acres off June estimates

USDA's National Agricultural Statistics Service cut its August estimates to 90 million acres of corn and 76.7 million of soybeans, down from June's 91.7 and 80 million after resurveying farmers and incorporating satellite data. The corn yield projection of 169.5 bushels per acre lifted the new-crop carryout to 2.18 billion bushels.

WHY IT MATTERS

Although acreage fell, the higher yield and bigger carryout signal ample corn supplies, which is bearish for corn and feed prices.

AFFECTSCORN▼SOY◆

SOURCE
agri-pulse.comSpencer Chase, Ben NuelleAug 12, 2019

Price reaction & history

CORN▼bearishSO FAR1d -3.8%5d -6.0%20d -8.6%

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.

Oct 12, 2021USDA officials increase soybean, corn yield estimates | Agri-Pulse Communications, Inc.+0.0%
Aug 10, 2017Bearish USDA crop report shakes corn and soybean sectors | 2017-08-10 | Agri-Pulse | Agri-Pulse Communications, Inc.-4.5%
Dec 9, 2022USDA’s WASDE leaves most grain and oilseed estimates unchanged | Agri-Pulse Communications, Inc.+1.9%
Jun 30, 2023More corn, less soybeans revealed in USDA crop acreage, grain stocks reports | Agri-Pulse Communications, Inc.-2.3%
May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+5.8%

SOY◆neutralSO FAR1d -1.4%5d -0.7%20d -3.3%

After 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.

Dec 9, 2021USDA maintains corn, soybean stocks estimates, gives bearish wheat figures in December WASDE | Agri-Pulse Communications, Inc.+0.1%
Dec 9, 2022USDA’s WASDE leaves most grain and oilseed estimates unchanged | Agri-Pulse Communications, Inc.-0.9%
May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+4.9%
Dec 12, 2018Few surprises in last WASDE of 2018 | 2018-12-11 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.8%
Aug 30, 2019Trade mitigation payments boost farm income | 2019-08-30 | Agri-Pulse Communications, Inc.-1.3%

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 · GP ▸

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SOY · GP ▸

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