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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 245 mil bu vs prior 220 (+11.4%, bearish); US soybean oil price 61 ¢/lb vs prior 63 (-3.2%, bearish); US corn season-avg farm price 4.85 $/bu vs prior 4.95 (-2.0%, bearish); US corn exports 2,075 mil bu vs prior 2,025 (+2.5%, bullish); US corn ending stocks 2,156 mil bu vs prior 2,111 (+2.1%, bearish); US wheat ending stocks 684 mil bu vs prior 670 (+2.1%, bearish).
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.
