
USDA's quarterly outlook projects the US agricultural trade deficit will grow to $42.5 billion in FY25, with exports falling $4 billion to $169.5 billion. Exports to China are forecast to drop $3 billion to $24 billion, mainly due to lower soybean and coarse grain sales.
Projected lower US export volumes to China, especially soybeans and sorghum, signal weaker demand that pressures US feed grain and oilseed prices.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), 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.