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An NDSU crop economist commented on the June WASDE, noting the market watches old-crop and new-crop columns. The U.S. corn crop is forecast near 1.5 billion bushels, close to a record.
The article focuses on pre-report expectations versus the USDA numbers.
A large new-crop corn forecast near record levels is bearish for corn prices if weather stays favorable. Feed buyers should watch whether the crop estimate holds.
agupdate.comSUE ROESLER, Farm & Ranch GuideJun 15, 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.
