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A CRS report on USDA's August 2019 forecast puts 2019 U.S. net farm income at $88 billion, up 4.8%, largely due to a 42.5% rise in government payments. It notes that commodity prices remain under pressure from large corn and soybean acreage and weak export prospects tied to the China dispute.
Heavy reliance on government support signals that underlying crop prices are weak. Large supplies and limited export demand point to continued pressure on feed grain and oilseed prices.
everycrsreport.comSep 19, 2019After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), and +0.2% 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.
