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The University of Maryland summarized the September 12 WASDE, which lowered corn yield by 1.3 bushels per acre to 168. Soybean yield was cut 0.6 bushels, and soybean ending stocks fell 115 million bushels, lifting the stocks-to-use ratio from 18.8% to 15.9%.
China also announced soybean and pork tariff exemptions.
The reduced soybean stocks-to-use ratio tightens supplies and supports prices, while the corn yield cut adds to the price floor. Feed buyers should expect firmer soybean and corn markets through the coming months.
blog.umd.eduSep 17, 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.
