
Grain traders are seeking clarity on corn and soybean fundamentals while there is still no trade deal with China. USDA's September report raised planted corn acres to 98.7 million and trimmed the yield to 186.7 bushels per acre, lifting production to 16.814 billion bushels.
A larger corn crop estimate is bearish for corn prices, and uncertainty over Chinese soybean demand keeps soybean prices under pressure.
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 788 past bearish report events, SOY 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.