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Sep 13, 2019REPORTUS

USDA Stays Optimistic on Corn, but Gro Model Points to Even Higher Yields

Gro Intelligence says USDA's September WASDE kept a more optimistic corn yield outlook than market participants expected. Its own Gro yield model points to corn yields higher still than USDA's estimate.

WHY IT MATTERS

A yield model pointing above USDA suggests the market may be underestimating US corn supply, which is bearish for corn prices and feed costs.

AFFECTSCorn▼

SOURCE
gro-intelligence.comSep 13, 2019

Price reaction & history

Corn▼bearishSO FAR1d +0.2%5d +3.9%20d +5.5%

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.

Sep 12, 2018USDA Pushes Corn, Soybean Yield Estimates Higher-2.5%
Aug 12, 2020USDA forecasts record high corn, soybean yields+3.8%
Oct 9, 2026Corn Ends 20 Cents Lower on USDA Yield Shock: Wheat Follows but Soybeans Recover-0.2%
Jul 12, 2022USDA Expects Higher Corn Supplies-13.6%
Nov 9, 2017USDA boosts corn harvest view above expectations on record yields - Grainews-1.8%

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.

Corn CORN · GP ▸

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