
CIH's summary of the December 2025 WASDE says USDA raised corn exports by 125 million bushels to 3.2 billion and cut ending stocks to 2.029 billion, below the pre-report range. USDA also expects September through November corn shipments to exceed 800 million bushels, a record.
Soybean balance sheets were little changed, and the wheat outlook was slightly negative.
Record shipments and lower corn stocks tighten the domestic balance and support corn prices, while wheat faces modest bearish pressure from the global supply picture.
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 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.
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.