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Michigan State professor Jim Hilker reviews the May 2018 USDA WASDE projections for the 2018-19 US corn marketing year. Production is projected just over 14 billion bushels on 88 million planted acres and a 174 bu/ac trend yield, down nearly 600 million bushels from last year.
A projected drop in production and beginning stocks tightens the corn supply outlook, which is mildly supportive of prices. The figures were near trade expectations, so the surprise was limited.
msu-prod.dotcdn.ioJames H. HilkerMay 16, 2018After 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.
