We examine empirically the impact of scheduled USDA information releases on uncertainty and sentiment in grains and oil-seeds markets. We document that, for up to five trading days after the release of a scheduled USDA report (WASDE, stocks, prospective plantings, and acreage), agricultural...

We investigate forward-looking commodity price volatility expectations (proxied by option-implied volatilities or IVols) around scheduled US Department of Agriculture (USDA) reports. We show that corn and soybean IVols are significantly lower for several trading days after a report. The IVol...