
Jerry Gulke says December corn fell 4.75 cents for the week and March corn lost 6.5 cents, after corn collapsed on the November USDA report's yield estimate of 186 bushels per acre. Corn closed below its 50-day moving average, generating a technical sell signal.
Soybean meal fell $7.40 for the week while soybeans were mixed.
Corn's failure to recover after the disappointing-to-bearish USDA yield reset points to lower near-term prices as the market turns defensive. Soybean meal weakness signals ample crush-related supply for feed buyers.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.