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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 corn ending stocks 1,738 mil bu vs prior 1,938 (-10.3%, bullish); US soybean meal price 300 $/st vs prior 320 (-6.3%, bearish); US soybean season-avg farm price 10.2 $/bu vs prior 10.8 (-5.6%, bearish); US corn exports 2,475 mil bu vs prior 2,325 (+6.5%, bullish); US wheat exports 850 mil bu vs prior 825 (+3.0%, bullish); World corn ending stocks 296.44 mmt vs prior 304.14 (-2.5%, bullish); US wheat ending stocks 795 mil bu vs prior 815 (-2.5%, 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.
