
Pro Farmer projected a US corn harvest of 13.759 billion bushels, below government forecasts, after hot and dry weather hurt yields in western areas. It projected a soybean crop of 4.535 billion bushels, slightly above USDA's record outlook.
Global corn supplies remain disrupted by the Russia-Ukraine war.
A smaller US corn crop than USDA expects tightens supplies and supports corn prices, while the bigger soy crop is a mild bearish factor for soybeans and meal.
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 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.
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.