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USDA's 10-year baseline projections released March 13 expect U.S. planted area to shift from soybeans toward corn and wheat because of the ongoing China trade dispute. Corn production is projected to keep growing over the decade as meat production expands feed use.
Long-term acreage shifts toward corn add supply that weighs on corn prices, while expanding meat output supports feed demand.
farmpolicynews.illinois.eduKeith GoodMar 18, 2019After 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), 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.
