USDA projects combined fall grain supplies at 25.38 billion bushels, 4% above the recent average, including beginning stocks plus new corn, soybean and sorghum production. High freight costs are pressuring record U.S. grain movement.
Large supplies combined with costly freight widen basis and inland discounts, pressuring corn and soybean prices at origin while raising delivered costs for feed buyers.
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 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.