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Prospex*Agro reviewed the September WASDE, noting global ending stocks for wheat, corn and soybeans all came in above trade expectations. USDA raised 2026/27 global wheat production by more than 3 MMT, led by Australia.
A looser global wheat balance from larger exporter crops adds bearish pressure on wheat, while corn and soybean surprises are smaller relative to their tighter balances.
prospex-agro.comSep 11, 2026After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
