
USDA's October 9 report projects a record 53.1 bpa soybean yield and corn at 181.2 bpa, with total corn production of 16.0 billion bushels, the second largest on record. State projections include Illinois at 68 bpa and Iowa at 63 bpa.
USDA says final yields may still change as more field data comes in.
Record and historically large crops point to heavier supplies, which pressures corn and keeps soybean supply comfortable. The soybean outlook is steady because the record yield is already widely expected.
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.
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.
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.