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Pro Farmer estimated the 2022 U.S. corn crop at 13.759 billion bushels with a 168.1 bu/acre yield, and soybeans at 4.535 billion bushels with a 51.7 bu/acre yield. Estimates came in well below USDA expectations after scouts sampled about 3,400 fields in seven states.
A production estimate well below USDA's figures signals tighter corn and soybean supplies than the market expected, supporting prices for feed grains and soybean meal.
agweb.comOct 5, 2022After 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, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
