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USDA's September 10 WASDE raised the US corn yield to 176.3 bushels per acre and planted acres to 93.3 million, lifting production 246 million bushels to 14.99 billion. Soybean yield was raised to 50.6 bushels per acre while planted acres were cut to 87.2 million.
A larger US corn crop and higher soybean yields point to ample supplies and pressure on feed grain and meal prices.
gfo.caPhilip ShawSep 13, 2021After 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.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
