
USDA cut its U.S. corn yield estimate by 1.6 bushels per acre to 179.6, a larger reduction than traders expected. Corn futures rallied sharply, and soybean futures also climbed after the November WASDE data showed a more supportive supply outlook.
A larger-than-expected corn yield cut points to tighter U.S. supplies, while the bullish report lifted both corn and soybean prices; feed buyers may face higher replacement costs.
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.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), 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.