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The Federal Reserve's July 2018 Beige Book reported mixed US agricultural conditions. Corn and soybean prices fell in the Chicago district, reducing expected harvest profits, while livestock producers faced asset sales and dairy closures.
Lower feed grain and soybean prices reflect weak farm income and oversupply, keeping downward pressure on feed costs for buyers while livestock stress persists.
farmpolicynews.illinois.eduKeith GoodJul 19, 2018After 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 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% 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.
