
USDA's first nationwide corn condition rating put 65% of crop good/excellent, with Iowa and Michigan strong and Illinois, Indiana and Ohio weak. Soybean planting was 67% versus a 68% average, and spring wheat was rated 62% good/excellent.
Farm Futures models imply an average yield near 167-169 bpa, below USDA's trend assumption, which is supportive for corn prices.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), 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.