Loading…
The November WASDE cut US corn production by 118 million bushels to 13.661 billion, with yield down 1.4 bushels to 167 per acre. Soybean ending stocks rose 15 million bushels to 475 million on lower projected crush, and bids eased on harvest pressure and weak export data.
The smaller corn crop supports corn prices, while higher soybean stocks and softer export demand pressure soybean values. Feed buyers face firmer corn costs with weaker soybean meal input signals.
kttn.comKTTN NewsDec 3, 2019After 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 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
