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USDA cut its average U.S. corn yield to 169.5 bushels per acre, but the figure still beat pre-report estimates and left corn production at 14.2 billion bushels. Soybean yield rose to 49.4 bushels per acre and production to 4.4 billion bushels, while spring wheat was cut to 402 million bushels on Dakota drought.
Larger-than-expected corn and soybean output offsets the drought-hit spring wheat loss, keeping feed supplies ample and prices pressured.
whoradio.iheart.comAug 10, 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.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
