A southeast Michigan farmer reports corn yields averaging 220 bushels per acre, above his average, with favorable dry fall weather. USDA estimates Michigan corn production down about 6 percent from last year and soybean production up about 9 percent.
Michigan's corn output falls year over year, but the state is a small share of national supply. The effect on prices is minor.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.