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The American Farm Bureau analysis says USDA's August survey put corn yield at 169.5 bushels per acre, 3.3 bushels above trade estimates, and soybean yields above expectations. Corn production of 14.153 billion bushels would be the third-highest on record.
A survey-based yield well above trade expectations signals ample U.S. feed grain and soymeal supplies, which weighs on prices.
fb.orgJohn Newton, Ph.D.Aug 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, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
