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USDA's NASS announced it is eliminating the August Objective Yield field survey for corn and soybeans and will use satellite data plus a farmer survey for the August Crop Production report. Field surveys continue for September through November reports.
Removing a field survey may raise uncertainty in the August crop estimates, which have historically driven sharp corn and soybean price moves.
dtnpf.comChris ClaytonMar 13, 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
