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The USDA's long-term baseline projections, released November 7, forecast US planted area for the eight major field crops falling to 248.5 million acres in 2024-25. Yields are expected to rise enough to deliver record soybean and corn production, while net farm income shrinks as non-animal commodity prices fall.
Projected record US corn and soybean output points to ample supply and softer prices over the coming decade. Feed buyers can expect a long-run bearish tilt for feed grains and soybean meal.
world-grain.comJason KendallNov 13, 2024After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
