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USDA raised projected 2021 US corn and soybean production in its September reports after improved rainfall and new planted acreage figures. Both crops are still below trend but would be the second-largest on record if realized.
Higher USDA production estimates add supply and have eased corn and soybean prices, lowering feed ingredient costs.
feedstrategy.comEmma PenrodSep 14, 2021After 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.
After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
