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USDA kept Indiana's corn yield projection at a record 189 bushels per acre in its latest crop report. Soybean yield was lowered to a state projection still described as a record at 58 bushels, with drought-stressed fields pulling down averages.
Harvest is nearly complete.
Record Indiana yields signal ample Corn Belt supply, which is mildly bearish for corn and soybean feed prices. The drought-related soybean cut is small relative to the national balance.
hoosieragtoday.comProductionNov 18, 2020After 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.
