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USDA's September forecast put the 2018 U.S. corn crop at 14.827 billion bushels, up 241 million from August, with a record yield of 181.4 bushels per acre. Yield gains were seen in eight of the top ten corn states, and some analysts doubted the forecast.
A record crop projection adds supply expectations that weigh on corn futures and feed grain costs, though historically September forecasts have often been revised lower at harvest.
doi.orgTodd Hubbs, Hubbs, ToddJan 1, 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.
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.
