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A University of Nebraska CropWatch article previews the August WASDE report, the first USDA estimate of US soybean and corn yields for 2017. It notes that soybean prices historically decline and become more volatile after the report, and it presents Chicago soybean carry spreads from early July.
The August WASDE is the first official yield estimate and historically pressures soybean prices, so buyers should weigh forward pricing and storage decisions ahead of it.
cropwatch.unl.eduJul 18, 2017After 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
