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USDA's January WASDE raised the US national corn yield to 10.55 t/ha from 10.48 and also lifted soybean yield, contrary to market expectations for a cut. Brazil and Argentina corn was unchanged at 101 and 50 million tonnes, and Russian corn rose 0.5 million tonnes.
A higher US yield and bigger global output loosen corn and soybean supply, which is bearish for feed grain prices.
graincentral.comGuest AuthorJan 14, 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, SOY 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.
