The Philippine Statistics Authority reported that corn output fell 17% year on year to 2 million metric tons in July to September. Yellow corn, a key feed ingredient, dropped almost 20% to 1.38 million tons, driven by a 12% contraction in harvest area.
A sharp drop in yellow corn output tightens domestic feed-grade supply, which raises the Philippines' reliance on imports and supports import-parity prices for feed millers.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.