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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 175 mil bu vs prior 190 (-7.9%, bullish); US soybean oil price 36 ¢/lb vs prior 34.5 (+4.3%, bullish); US soybean meal price 370 $/st vs prior 355 (+4.2%, bullish); US soybean meal exports 14,000 k st vs prior 13,500 (+3.7%, 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, SOY 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, SBM 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, SBO 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.
