Ahead of next week's USDA Crop Production and Supply/Demand reports, StoneX raised its US corn yield estimate to 183.1 bushels per acre, above USDA's 181.2. It also raised its soybean yield estimate to 55 bushels per acre, versus USDA's 53.1.
StoneX says western Corn Belt yields improved as harvest progressed.
Yield estimates above USDA's figures point to larger US supplies of corn and soybeans, which would weigh on feed grain and meal prices. Markets are watching the USDA reports for a possible bottom after recent declines.
After 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.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.