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The USDA's January 12 supply and demand report raised US corn production to a record 15.3 billion bushels on a record yield of 177.3 bushels per acre. Corn stocks rose 31 million bushels to 2.162 billion, and the season-average price was lowered to $4.80 per bushel.
Higher US corn supplies and ending stocks point to lower domestic corn prices and more feed availability for buyers.
agrinews-pubs.comTom DoranJan 16, 2024After 2,389 past report events, SOY moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
Not enough comparable past events yet for a historical read.
After 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.
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.
