Analyst Naomi Blohm says corn may have established its harvest low, citing a technical reversal signal and Tuesday’s rally after the USDA’s supply-and-demand report. She points to the USDA’s lower estimate of 1.758 billion bushels for corn ending stocks as potential support into the new year, and says farmers holding stored corn may consider waiting for higher prices.
A lower ending-stocks estimate implies a tighter US corn balance sheet, which can support prices and raise feed costs if the market sustains the rally.
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.