
December corn futures fell 6 cents to $4.15 1/2 on September 30 after a USDA quarterly stocks report showed U.S. corn stocks 195 million bushels above the average trade estimate. Crop condition ratings were steady at 66% good to excellent, and harvest was 18% complete.
Larger-than-expected corn stocks signal ample feed supply, which pressures corn and feed-grain prices and reduces the cost of corn-based feed inputs for 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.
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.