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Analysts previewed the USDA's May Crop Production and WASDE reports, due Thursday at 11 a.m. CDT.
Estimates for 2018 production and 2018-19 ending stocks showed especially wide ranges among analysts.
Wide estimate ranges mean the report could surprise the market in either direction. Buyers should expect volatility around the release.
dtnpf.comDarin Newsom DTN Senior AnalystMay 9, 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.
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.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
