◂ Event Timeline

Oct 5, 2020REPORTGlobal

Upbeat USDA Report Sparks Grain Rally

A surprisingly bullish USDA quarterly stocks report pushed US wheat prices up US$10/t after a quiet week, with much lower-than-expected corn stocks setting the tone. Russia's grain export quota mechanism remains relevant, and Argentina's wheat crop is forecast lower due to dry weather.

WHY IT MATTERS

Lower corn stocks and reduced wheat supplies in the US and Argentina raise feed grain prices. Russian export quota risk adds upside pressure to global wheat values.

AFFECTSCorn▲Wheat (SRW)▲

SOURCE
blog.interlegal.com.uaPortNewsOct 5, 2020

Price reaction & history

Corn▲bullishSO FAR1d -1.8%5d +0.6%20d +5.8%

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.

Sep 30, 2020A rarity: USDA report sparks broad rallies+1.5%
Jun 10, 2021Corn stocks cut in USDA WASDE report - Grainews-1.8%
Jun 12, 2018U.S. Grain Stocks Get Smaller, USDA Report Shows-2.1%
Mar 31, 2025USDA reports mixed grain stocks, with wheat up and corn down+0.4%
Jul 13, 2016USDA report brings some grain price relief | NSW+7.6%

Wheat (SRW)▲bullishSO FAR1d +1.5%5d +1.8%20d +3.4%

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

Sep 30, 2020A rarity: USDA report sparks broad rallies+2.5%
Jun 12, 2018U.S. Grain Stocks Get Smaller, USDA Report Shows-0.9%
Feb 10, 2017Daily Grain Report-0.6%
Jul 13, 2016USDA report brings some grain price relief | NSW+1.0%
Sep 30, 2022USDA reports trigger corn rally+0.4%

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.

Corn CORN · GP ▸

——— · ·

Wheat (SRW) WHEAT · GP ▸

——— · ·

Loading…