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The USDA put 2019 U.S. corn production at 13.692 billion bushels, down 5% from 2018, with soybeans at 3.558 billion bushels, down 20%. Estimated production and harvested area were used for several states because of wet weather and harvest delays, and resurveys will follow with possible updates in late spring.
Smaller-than-prior-year final crops tighten the feed grain and oilseed balance, but the figures were largely anticipated after months of harvest delays, so the price impact is modest.
brownfieldagnews.comJan 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.
