
USDA cut its U.S. corn production estimate by 141 million bushels from October, attributing the reduction to a 1.6-bushel-per-acre yield decline to 179.6 bushels. The article says corn and soybean ending stocks were reduced and discusses continued uncertainty over corn yields and export demand, including Chinese soybean demand.
Lower projected corn output and tighter corn and soybean stocks reduce expected supply, supporting prices; further yield revisions could add volatility. Export demand, particularly for soybeans, is another potential source of support.
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.