
USDA data showed July soybean crush at 222 million bushels, above expectations and 17 million higher than a year earlier. Corn used for ethanol reached 474.7 million bushels, up 4% from July 2025.
Soybean oil and soybean meal inventories were above analyst forecasts and year-earlier levels.
Robust ethanol grind keeps corn demand firm, which supports corn prices. Heavy crush output and rising meal stocks add pressure on soybean meal prices for feed buyers.
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.
After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.