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USDA cut its 2022 U.S. corn production by 415 million bushels to 13.94 billion, with yield lowered 2.9 bushels to 172.5 per acre. Soybean production was cut 153 million bushels to 4.378 billion, with yield down 1.4 bushels to 50.5.
Smaller U.S. corn and soybean crops reduce available feed grain and protein supplies, supporting prices for corn, soybeans and meal used in feed formulations.
grainpricenews.comMike VerdinSep 12, 2022
dtnpf.comDTN StaffSep 13, 2022After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 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 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
