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USDA's November WASDE cut US corn production by 118 million bushels, with the national yield falling to 167 bushels per acre. Demand was also trimmed for feed, ethanol and exports, leaving ending stocks down about 19 million bushels.
The 2019/20 season average farm price was raised to $3.85, above the $3.70 PLC reference price.
Lower projected US corn stocks and a firmer season-average price support feed grain costs for buyers, though reduced demand partly offset the supply cut.
farmprogress.comJohn DuffDec 31, 2019
proag.comDec 31, 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.
Not enough comparable past events yet for a historical read.
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.
