Milk production estimates remain unchanged for first time in 6 months

After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.

• Aug 17, 2023USDA Raises All-Milk Price for the First Time in Months - Dairy Herd-0.6%
• Sep 17, 2024Lee Mielke: Milk production estimates lowered again | Capital Press+0.6%
• Oct 12, 2021Lee Mielke: Milk production estimates lowered again | Capital Press-0.1%
• Apr 12, 2022Lee Mielke: Milk production estimate raised | Capital Press+0.2%
• Dec 12, 2016Milk futures up on lower production estimates - Brownfield Ag News+1.3%

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.

• Nov 27, 2020Grain: global production estimates sharply revised - Mundus Agri+0.1%
• Jan 15, 2024USDA milk production, price outlooks remain stagnant | Ag Proud+0.8%
• Aug 28, 20232022/23 Brazil Corn Estimate Unchanged at 133.0 Million Tons-1.3%
• Jun 1, 2026USDA Releases First New-Crop Estimates in Today's WASDE-5.5%
• Dec 10, 2019USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged+4.3%