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The USDA's February report put 2017/18 US corn ending stocks at 2.352 billion bushels, below trade expectations, while soybean stocks rose to 530 million bushels and wheat stocks to 1.009 billion. Corn futures rose and soybeans and wheat initially fell.
Tighter-than-expected US corn stocks support corn prices and feed grain costs, while larger soybean and wheat supplies weigh on those markets.
agcanada.comAGCanadaFeb 8, 2018
agriculture.comMike McGinnisFeb 8, 2018After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 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 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
