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The USDA's September 12 WASDE cut U.S. corn production by 102 million bushels to 13.799 billion on a lower yield forecast. Soybean production was projected at 3.6 billion bushels, down 47 million, and soybean ending stocks were cut to 640 million bushels, down 115 million from August.
A tighter corn crop and a sharp soybean stocks cut reduce available supply and support prices for both crops. Feed buyers should expect higher corn and soymeal costs as the lower carry-out feeds through the market.
hpj.comHPJ StaffSep 13, 2019After 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.
