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DTN analysis of the USDA annual crop production report shows 2016 US corn production fell 78 million bushels from November's estimate, with yield cut 0.7 bu/acre to 174.6, still a record. Iowa averaged 203 bu/acre and Pennsylvania was hit hardest by drought.
A downward revision from November modestly tightens the corn balance sheet, but record production overall keeps supplies ample and limits upward price pressure.
dtnpf.comJoel KarlinJan 17, 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.
