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USDA's September WASDE raised the 2021 US corn yield 1.7 bushels per acre to 176.2 and production to 14.996 billion bushels, 246 million above August. Ending stocks rose to 1.408 billion bushels from 1.242 billion, and the report was broadly bearish, though corn futures rallied after the release.
Larger new-crop corn production and higher ending stocks weigh on corn prices and reduce the feed cost outlook for buyers.
dtnpf.comDana MantiniSep 10, 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.
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.
