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A University of Illinois farmdoc analysis reviews the May 10 WASDE first 2017-18 corn and soybean projections. It notes the yield figures do not yet reflect the cold, wet spring across the Corn Belt.
Projected consumption at substantial supplies and lower prices implies a bearish baseline, but planting delays could tighten the balance if yields fall short.
origin.farmdocdaily.illinois.eduMark AlthouseMay 15, 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 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
