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USDA's October WASDE projects 2019 corn production at 13.8 billion bushels on a yield of 168.4 bushels per acre. Soybean production is forecast at 3.55 billion bushels, and soybean ending stocks fell to 460 million bushels.
Higher-than-expected corn ending stocks are bearish for corn prices, while the sharp drop in soybean stocks supports soybean and soymeal prices.
ocj.comOhio Ag NetOct 1, 2019
dtnpf.comDTN StaffOct 10, 2019
politico.comRyan McCrimmonOct 1, 2019
proag.comOct 10, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
