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USDA reports in late March showed corn stocks below expectations and planted acreage for 2021 below trade estimates. Cash corn in Southwest Kansas and the Texas Panhandle was $5.85-6.01 per bushel, up roughly 80% from the August 2020 low.
Tighter corn stocks and lighter acreage point to continued high feed grain costs, raising feedlot cost of gain and pressuring cattle margins. Feed buyers should expect elevated ration costs.
wlj.netDerrell S. Peel, Oklahoma State University Extension livestock marketing specialistApr 9, 2021After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 126 past bearish report events, FCATTLE moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, LCATTLE moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
