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USDA's Economic Research Service reports the soybean-to-corn price ratio rose from 2.64 to 2.71 since late June, a 2.5% increase. The shift follows lower-than-expected corn plantings in the June Acreage report and expectations of higher corn yields.
A rising soybean-to-corn ratio signals farmers may favor soybean acreage over corn, which could tighten future corn supply and shift feed ingredient balances toward soymeal.
ers.usda.govAug 24, 2020After 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.
After 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
