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USDA's May WASDE pegged 2024/25 and 2025/26 US corn ending stocks below month-earlier levels and below trade expectations. Global corn and soybean 2025/26 stocks also came in under expectations, while wheat came in higher.
Lower corn and soybean carryouts tighten supply for feed buyers and support prices, while higher wheat stocks weigh on wheat values.
agriculture.comCassidy WalterMay 12, 2025After 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 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.
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.
