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A farmdoc analysis said USDA's September 1 forecasts put Illinois corn yield at 189 bushels per acre, up one bushel, and soybeans unchanged at 58. Harvest was underway and the author expected some positive surprises, though fewer 80-plus bushel soybean yields than in 2016.
Hot, dry weather was accelerating leaf drop and drydown.
Illinois yields above the August estimate point to a sufficient harvest and ease supply concerns, which is mildly bearish for corn and soybeans.
farmdoc.illinois.eduEmerson NafzigerSep 16, 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, SOY 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.
