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Wheat futures traded lower overnight after USDA's quarterly report showed Sept. 1 wheat stocks of 2.12 billion bushels, above the 2.041 billion expected.
Corn stocks of 1.532 billion bushels also beat trade estimates, and soybean stocks of 316 million bushels came in below forecasts.
Large wheat and corn inventories add pressure on feed-grain prices, while the smaller soybean stocks offer modest support for soy-complex values.
agriculture.comTony DreibusOct 1, 2025After 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.
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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
