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USDA's quarterly Grain Stocks report showed September 1 corn stocks of 177 million bu above the trade estimate, while soybean and wheat stocks came in below expectations. StoneX's Arlan Suderman said USDA may need to cut its feed usage estimate in the October WASDE, and spring wheat production was also below expectations.
Larger corn stocks add supply, while smaller soybean and wheat stocks tighten those balances and support prices. A feed usage revision would also change the corn carryout outlook.
rrfn.comDon WickOct 1, 2026After 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 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 769 past bullish report events, WHEAT 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.
