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The USDA's first nationwide corn condition rating was 65% good to excellent, with Iowa and Michigan strong while Illinois, Indiana and Ohio lagged. Corn planting was 91% complete against a 93% average, and soybean planting was 67% complete.
Farm Futures models put the national yield near 169 bushels per acre, about 3 below the USDA trend, which points to a tighter corn balance and firmer feed prices.
feedstuffs.comBob Burgdorfer 1May 31, 2017After 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.
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.
