Soy futures surge to new four-year high as USDA slashes inventory estimates

After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.

• Jul 1, 2023U.S. grains: Soy soars after USDA slashes plantings estimate - Grainews-3.2%
• Jun 1, 2026USDA Releases First New-Crop Estimates in Today's WASDE-5.5%
• Mar 9, 2023Argentina soy harvest could be worst in decades as forecast slashed | Reuters-2.5%
• Oct 10, 2019Corn futures fall after higher U.S. yield estimate surprises traders | Financial Post+0.5%
• May 9, 2016USDA slashes soy supply view; prices surge - Agweek | #1 source for agriculture news, farming, markets+2.8%

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.

• Aug 25, 2022EU slashes maize crop forecast again, increases wheat harvest estimate | Reuters+1.2%
• Mar 28, 2024USDA Estimates Farmers Will Plant 90M Corn Acres, 86.5M Soybean Acres This Year-2.0%
• Dec 7, 2018Markets React Favorably to USDA's December Estimates - All Ag News+0.5%
• Sep 30, 2021USDA Estimate for Soybean Stocks Higher Than Expected | Red River Farm Network+0.3%
• Apr 10, 2026USDA Raises Wheat, Corn and Soy Price Estimates - Farm Policy News+1.0%