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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: World corn ending stocks 307.51 mmt vs prior 159.35 (+93.0%, bearish); US soybean ending stocks 955 mil bu vs prior 885 (+7.9%, bearish); US soybean exports 1,900 mil bu vs prior 2,060 (-7.8%, bearish); US corn ending stocks 1,736 mil bu vs prior 1,813 (-4.2%, bullish); US corn season-avg farm price 3.6 $/bu vs prior 3.5 (+2.9%, 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.
