
CoBank reports the US is heading into a record harvest of 21.5 billion bushels of corn, soybeans and grain sorghum amid uncertain US-China trade relations and weak soybean export demand. Upright storage is projected to be 1.4 billion bushels short across the top 12 corn-producing states, and merchandisers are charging higher storage fees.
Corn and wheat exports are strong, while soybean and sorghum sales lag.
Abundant supply combined with scarce storage and weak soybean demand is pressuring cash grain and oilseed prices, while tight storage raises handling costs for feed buyers.
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.
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 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.