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A Texas A&M economist reviewed USDA's first 2017 WASDE, which cut US corn production by 78 million bushels and lowered ending stocks to 2.355 billion bushels. The season average farm price rose to $3.40 per bushel.
Corn stocks on December 1 were 22% above average.
Large carryover stocks limit upside price moves from small changes in acreage or yields, keeping corn prices under pressure.
cornsouth.comAmanda HuberFeb 1, 2017After 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.
