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USDA released its June 2019 WASDE report on June 20. It projected 2019/20 U.S. corn production down 1.4 billion bushels to 13.7 billion, the lowest since 2015/16, and revised cotton and rice balance sheets.
A smaller projected corn crop and tighter ending stocks support corn prices and lift demand for feed grain substitutes, raising feed costs for buyers.
farmprogress.comJun 20, 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.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% 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.
