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A University of Illinois farmdoc analysis questions the USDA's August report, which showed 90 million planted corn acres and 82 million intended for grain. Analysts doubt the planted figure and argue harvested acreage could be lower because of poor crop ratings and possible silage or abandonment.
Uncertainty over harvested acres could mean the USDA overstated supply, which would make corn prices more sensitive to future data revisions.
origin.farmdocdaily.illinois.eduHongxia JiaoAug 19, 2019After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
