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USDA's April WASDE put U.S. wheat ending stocks at the highest level since 2019-20 and pressured wheat futures, with July SRW down about 8.5 cents near $5.83 after touching a five-week low. Corn was slightly lower on higher global production potential, while soybeans held firm on steady stocks and improved crush.
Higher wheat stocks weigh on wheat values and make wheat a cheaper feed alternative. Firm soybean crush supports meal supplies and firmness in soymeal values.
farmprogress.comBen PotterApr 9, 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 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
