Loading…
USDA's November report cut its 2018 U.S. corn yield to 178.9 bushels per acre and soybean yield to 52.1 bushels per acre, both lower than October. Corn output was put at 14.626 billion bushels and soybeans at 4.599 billion, though both remain at or near record levels.
The reduction was larger than analysts expected, tightening feed grain and soybean supplies and supporting corn, soybean and meal prices.
brownfieldagnews.comNov 8, 2018After 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
