This set of reports is associated with the largest average CBOT corn and soy moves of the 15 major USDA report days per year.
Directionally, corn and soy futures on June 30 tend to react to acres far more often than stocks, though U.S. weather forecasts often add to the chaos.
In the six sessions ended Thursday, CBOT December corn futures plunged 15.9%, June’s biggest six-session loss in at least three decades.
Analysts basically nailed both corn acres and June 1 corn stocks last year, which was unprecedented, but December futures fell more than 5% on report day.
Trade biases for June 30 U.S. stocks, acres versus pricesTrade biases on June 30 U.S. soy stocks, acres versus pricesKaren Braun is a market analyst for Reuters.
Persons:
Corn, Karen Braun, Matthew Lewis
Organizations:
U.S . Department, Reuters, Thomson
Locations:
NAPERVILLE , Illinois, U.S