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Iowa Farm Bureau reports that USDA's July WASDE projects larger 2017/18 U.S. corn supplies, higher feed and residual use, and higher ending stocks. Corn beginning stocks were raised 75 million bushels on lower 2016/17 feed and residual use.
Larger corn supplies and higher ending stocks point to softer corn prices and cheaper feed grain for buyers.
iowafarmbureau.comJul 17, 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.
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.
