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Pro Farmer estimated the U.S. corn crop at 15.116 billion bushels on a 177.0 bu/acre yield and the soybean crop at 4.436 billion bushels on 51.2 bu/acre. Its corn estimate sits above USDA's August figure of 14.75 billion bushels, based partly on 910,000 added harvested acres.
Pro Farmer's larger crop estimate than USDA suggests more corn supply than the official report, which can weigh on feed grain prices. The gap between private and government estimates adds volatility ahead of the next USDA report.
profarmer.comPro Farmer EditorsAug 22, 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, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
