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Monthly World Agricultural Supply and Demand Estimates, 12:00 ET. Updates US and world balance sheets and season-average price projections.
Surprises: US soybean ending stocks 480 mil bu vs prior 395 (+21.5%, bearish); US soybean oil price 34 ¢/lb vs prior 32 (+6.3%, bullish); World soybean ending stocks 81.53 mmt vs prior 77.36 (+5.4%, bearish); US corn ending stocks 2,403 mil bu vs prior 2,320 (+3.6%, bearish); US soybean meal exports 12,000 k st vs prior 12,300 (-2.4%, bearish); US soybean season-avg farm price 9.2 $/bu vs prior 9.05 (+1.7%, bullish); US soybean meal price 325 $/st vs prior 320 (+1.6%, bullish); US corn season-avg farm price 3.3 $/bu vs prior 3.25 (+1.5%, bullish).
USDA WAOBAfter 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 1,283 past report events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -2.0% to +1.7%), and -0.2% over 20.
After 686 past report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.0% 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.
