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USDA's September Feed Outlook raised US corn yield to 183.6 bu/acre and lifted sorghum production by 23 million bushels to 302 million. Global coarse grain output for 2024/25 is forecast down 1.8 million tons on EU, Russian and African weather losses.
Larger US corn and sorghum supplies are bearish for prices, partly offset by global coarse grain declines from European and Black Sea drought and heat.
feedandgrain.comFeed, Grain StaffSep 17, 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.
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.
