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Farm Futures analyst Bryce Knorr explains that world supply and demand, shown through scattergram charts, now drives U.S. corn and soybean prices. He says the USDA world estimates released March 10 may matter more than the U.S. figures.
Global stocks-to-use relationships set the price framework for U.S. growers, so world balance sheets should guide expectations for corn and soy.
farmprogress.comBryce KnorrMar 10, 2020After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
