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USDA made no changes to U.S. corn, soybean and wheat supply and demand tables in its December report. It did raise its average 2016-17 farm price estimates for the three crops and raised world ending stocks on bigger production from several nations.
Higher projected farm prices with unchanged supplies signal firmer U.S. cash values, while higher world stocks from export competitors limit upside in export markets.
brownfieldagnews.comJohn PerkinsDec 9, 2016After 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.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
