Loading…
USDA reported 2020 U.S. corn production at 14.183 billion bushels, up 4% from 2019 but more than a billion bushels below its first estimate. Average corn yield was 172 bpa and soybean production rose 16% from 2019 but was 289 million bushels below the first estimate.
Production well below earlier projections tightens feed grain and soybean supplies. This supports prices for corn, soybeans and the meals made from them.
brownfieldagnews.comadminJan 12, 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
