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Mecardo's commentary on the May 2025 WASDE highlights record global wheat and corn production for 2025-26, with consumption expected to outpace output and cut stocks slightly. Wheat stocks-to-use is forecast to fall to 32.9%, the lowest since 2012-13.
Tightening stocks-to-use for wheat and corn is supportive of prices over the medium term, even though record output limits near-term gains.
mecardo.com.auAngus BrownMay 13, 2025After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
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.
