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CHS Hedging analyst Steve Hyde said the November WASDE raised the U.S. corn yield by about four bushels per acre and left soybeans unchanged. He noted that world stocks were large and that strong export demand had supported the market, especially for soybeans.
Higher corn production and large world stocks limit upside for corn, making rallies harder to sustain, while export demand gives soybeans some support.
brownfieldagnews.comMark DorenkampNov 9, 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 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.
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.
