Loading…
Analysts expected the USDA's final 2019 corn and soybean crop estimates to come in below the November projections after widespread harvest delays. Winter wheat planted area was also expected to fall below a year earlier.
Expectations of lower output support corn and soybean prices ahead of the report, though the actual numbers may still shift as some fields remain unharvested.
brownfieldagnews.comJan 7, 2020After 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.
After 40 past neutral report events, Wheat (HRW) moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% to +1.6%), and -0.5% 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.
