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Pro Farmer projected record US corn and soybean crops, though below the USDA estimate. Forecasts for large crops had already pushed soybean prices to multi-month lows.
Big yield expectations add to supply and can pressure prices further, while crop insurance claims could follow if prices fall sharply.
reuters.comMark WeinraubAug 26, 2016After 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.
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.
