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USDA's July WASDE surprised grain markets with larger cuts to corn supplies than expected, with December corn futures topping $4.60 and November soybeans above $11.90. Global corn ending stocks fell to 275.3 million tonnes, nearly 24 million below last year, and the EU corn crop was cut 3.7 million tonnes on heat and dryness.
Wheat also rallied more than 20 cents during the session.
A friendlier-than-expected stock cut and heat-driven EU corn losses tighten global feed grain supply. Corn, soybean and wheat prices are likely to remain supported.
agweb.comMichelle RookJul 10, 2026After 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 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.
