
The November WASDE report, released after the government shutdown, projected below-average wheat and corn prices. The USDA lowered the 2025-26 US wheat season-average price to $5 from $5.10, and wheat and corn futures barely moved on the release day before recovering.
Higher wheat and corn stock-to-use ratios point to ample supplies, keeping feed grain prices subdued for buyers. The report had little lasting price impact.
After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
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.