USDA Lowers Corn and Soybean Yields and Production

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

• Oct 12, 2022USDA Lowers Corn, Soybean Yields Slightly+3.6%
• Aug 12, 2022USDA Projects Higher Soybean Yield, Lower Demand-2.3%
• May 12, 2022Corn, Soybean Production Numbers as Expected in May USDA Report+5.9%
• Jun 12, 2024USDA Projects Slightly Lower Brazilian Soybean Production-2.1%
• Aug 21, 2020Pro Farmer Estimates National Corn and Soybeans Yields Below USDA Forecasts+3.1%

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.

• Sep 12, 2022USDA Lowers Corn and Soybean Yields-1.1%
• Jan 13, 2021USDA Lowers Soybean Stocks and Corn Yield+2.0%
• Oct 12, 2022USDA Lowers Corn, Soybean Yields Slightly+1.9%
• Aug 12, 2022USDA Lowers Corn Production, Increases Soybean Production in August Reports-0.7%
• May 10, 2024USDA Lowers Estimates for Brazil Corn and Soy Production+2.4%

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.

• Sep 12, 2019USDA Lowers Corn, Soybean Production and Yield - ProAg+4.1%
• Sep 12, 2022USDA Lowers Corn and Soybean Yields-2.7%
• Oct 12, 2022USDA Lowers Corn, Soybean Yields Slightly-0.3%
• Sep 12, 2023USDA Increases Corn Production, Lowers Yield-2.6%
• May 10, 2024USDA Lowers Estimates for Brazil Corn and Soy Production+2.0%

Not enough comparable past events yet for a historical read.