Loading…
USDA's May WASDE and Crop Production reports forecast a 14.86 billion bushel corn crop and a 4.45 billion bushel soybean crop for 2024-25, based on 181 bu/acre corn and 52 bu/acre soybean yields. The reports included the first detailed forecast for the new crop year.
The first official new-crop balance sheets set the baseline for feed grain and meal pricing, and the corn acreage shortfall tightens the outlook versus last year.
dtnpf.comDTN StaffMay 10, 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 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
