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USDA's NASS reported that Iowa produced its second largest corn and soybean crops in 2017, with corn averaging 202 bushels per acre and soybeans 56.5 bushels per acre. Officials stressed the need for domestic and international demand, including renewable fuels and NAFTA outcomes.
Large 2017 Iowa output confirms ample old-crop supplies, which is bearish for corn and soybean prices and for feed costs that stay low.
iowaagribusinessradionetwork.comStaff EditorFeb 23, 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.
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.
