
Corn and soybean futures closed higher on September 12 after USDA cut its corn yield by 2.1 bushels per acre to 186.7 and China trade hopes lifted soybeans. USDA raised corn production 72 million bushels to a record 16.814 billion, though the report was still described as bearish overall.
The yield cut and disease-related losses point to lower final yields, while trade optimism with China supports soybean prices.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
Corn closed higher on Sept 12 after the USDA yield cut of 2.1 bu/acre, with short covering and China trade hopes adding to buying.