
USDA's November WASDE projected corn production at 16.8 billion bushels, down 62 million from September, with corn ending stocks raised 44 million to 2.2 billion bushels. U.S. soybean exports were cut 50 million bushels to 1.64 billion, and the corn exports forecast was raised 100 million bushels.
Higher corn ending stocks and a cut in soybean exports indicate ample feed grain supplies, which is bearish for corn and soybean complex prices.
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, 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.