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Soybean futures extended an overnight rally to 11-week highs after USDA projected smaller-than-expected 2025-26 soybean and corn ending stocks. The report followed a US-China agreement to temporarily suspend most tariffs.
Smaller carryouts than expected point to firmer soybean and corn prices, which raises feed ingredient costs for buyers.
farmprogress.comBruce Blythe, Ben PotterMay 12, 2025After 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 1,040 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
