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Wisconsin's 2017 corn and soybean harvests beat expectations after a cool, wet spring was followed by a warm autumn. USDA forecast 168 bpa for corn and 46 bpa for soybeans, and soybean harvested acres hit a state record of 2.14 million.
Final production figures are due January 12.
Bumper yields and record soybean acreage add to large US supplies, which pressures corn and soybean prices. Feed buyers should expect ample supply.
farmprogress.comFran O'LearyDec 11, 2017After 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.
