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The March WASDE left all three U.S. commodities unchanged, with corn carryout at 2.130 billion bushels, 25 million below consensus. Soybean carryout of 350 million bushels was 7 million above consensus, and wheat was in line with expectations.
The corn surprise is modestly bullish given strong export commitments, while the soybean surprise is modestly bearish, so the net effect on feed prices is mixed.
basisbrief.comMar 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
