Yields and output pushed slightly lower by USDA.
DES MOINES, Iowa — The U.S. farmers had a smaller haul in the fall of 2016 than first thought, according to the USDA Thursday.Here's the USDA's WASDE page. And the 5-minute chart via FinViz:
As a result, the CME Group’s farm futures jumped double-digits on soybeans, corn moved higher then dropped, and wheat traded slightly higher.
In its January Crop Production and Supply/Demand Reports, the USDA/WASDE data shows the U.S. 2016/17 corn production at 15.148 billion bushels vs. the USDA’s November estimate of 15.226 billion bushels and the average analysts’ estimate of 15.19 billion....MORE