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USDA will release its January reports on Thursday, January 12, including crop production, quarterly grain stocks, winter wheat seedings and WASDE. Pre-report estimates put corn production near 15.2 billion bushels and soybean production at 4.380 billion bushels.
Pre-report expectations set the bar for the market reaction; the outcome versus these estimates drives near-term corn and soybean price moves.
dtnpf.comDarin Newsom DTN Senior AnalystJan 11, 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.
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.
