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Michigan's annual crop summary reports a record 2016 soybean yield of 50.5 bu/acre, while corn yield averaged 157 bu/acre, down 5 bushels from the prior record. Harvest was delayed by a wet spring but finished close to normal pace.
A state-level record soybean crop adds to the broader US supply picture, though Michigan's volume is small relative to national output and the impact on prices is limited.
farmprogress.comJan 23, 2017After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
