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March 2017 corn futures fell 9.25 cents to close at $3.49 on December 1 after USDA's Baseline projections were released. The Baseline showed US planted corn acreage falling to 90 million acres for 2017 and 2017/18 ending stocks of 2,298 million bushels.
Those stocks remain among the largest in 30 years.
Large projected US carryout and lower-than-hoped acreage reduction keep the supply cushion heavy, which weighs on corn prices. Feed buyers face continued price pressure unless yield or demand surprises emerge.
seeitmarket.comMarcus LudtkeDec 5, 2016After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), 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.
