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Pro Farmer's national estimates project US corn production below USDA figures and soybean production above them, following crop tour sampling of 2,000 to 3,000 fields in seven states. USDA had put record yields on corn in five of the seven states.
A smaller corn crop than USDA projects tightens feed grain supply and supports corn prices, while a larger soybean crop adds pressure to soybean and meal markets.
agweb.comAug 23, 2024After 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.
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.
