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The Allendale 34th Nationwide Producer Yield Survey put corn yield at 171.5 bu/acre, with production about 300 million bushels lower, and soybean yield at 49.6 bu/acre. Both totals are below USDA's latest estimates.
Nebraska took the biggest hit from late-season dryness.
Private survey estimates below USDA's numbers point to a smaller US crop, which supports corn and soybean prices.
brownfieldagnews.comSep 7, 2023After 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 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
