USDA's March 2018 WASDE raised 2017/18 US corn exports by 175 million bushels to 2.225 billion and added 50 million bushels for ethanol. US corn ending stocks were cut by 225 million bushels to 2.127 billion, and the season-average price midpoint rose 5 cents to $3.35.
Soybean exports were lowered and sorghum exports were cut by 15 million bushels on reduced China shipments.
A 225 million bushel cut to US corn stocks is a large tightening that supports corn prices and feed grain costs. Lower soybean exports add to soybean supply, which pressures soybean meal values.
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 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
Not enough comparable past events yet for a historical read.
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.