Loading…
The January WASDE cut the US corn yield to 179.3 bushels per acre and the soybean yield to 50.7, both below the trade's estimate ranges. Both markets rallied sharply after the report.
Lower US yields tighten the corn and soybean carryout supply, supporting prices, and the surprise size shows how strongly USDA reports move the market.
agriculture.comBryan DohertyJan 21, 2025After 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.
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.
