Corn, Soybean Production Numbers as Expected in May USDA Report

After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.

• Sep 12, 2019USDA Lowers Corn, Soybean Production and Yield - ProAg+4.8%
• Nov 10, 2021PF Report Reaction: USDA unexpectedly trims its soybean crop estimate - Pro Farmer+0.3%
• Jan 1, 2017Corn and Soybean Production Outlook in 2017-18+0.3%
• Dec 10, 2019USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged+4.3%
• Dec 11, 2020Unexpectedly neutral USDA report lowers corn prices+1.9%

After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.

• Nov 14, 2025USDA Lowers Corn and Soybean Production Estimates-0.8%
• Dec 8, 2023USDA Lowers Brazilian Soybean Production, Increases Exports+0.2%
• Apr 11, 2023PF Report Reaction: USDA unexpectedly keeps corn, soybean ending stocks unchanged - Pro Farmer+2.0%
• Dec 10, 2019USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged+2.8%
• Feb 28, 2025US soybeans production to fall in next marketing year: USDA-0.9%

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

• Aug 11, 2023USDA Lowers Corn and Soybean Yields and Production-1.5%
• Aug 10, 2017USDA Forecasts Record-High Soybean Production in 2017-0.2%
• Sep 30, 2021U.S. Farmers Produced More Soybeans, Hold More Stocks, USDA Reports+5.6%
• May 12, 2023USDA: Corn and soy production will outpace demand in coming year-1.1%
• May 13, 2022USDA: U.S. Corn Production to Drop 4.3%+4.4%