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USDA's November 2019 farm income forecast highlights large corn and soybean stocks, poor planting and harvest weather, and diminished trade prospects. It also projects livestock production growth and sector income for 2019 and 2020.
Large stocks and weak trade prospects keep corn and soybean prices under pressure, which limits feed cost relief for livestock buyers only partly. The report mainly reflects existing conditions rather than new supply or demand changes.
everycrsreport.comDec 18, 2019everycrsreport.comDec 18, 2019After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
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.
