
USDA's first 2025/26 WASDE estimates project average US marketing-year prices of $5.30 for wheat, $4.35 for corn and $4.15 for sorghum. Stocks-to-use ratios are high for US wheat (47%) and corn, supporting the lower price outlook.
Ample US old-crop and projected new-crop stocks point to weaker cash grain prices and cheaper feed grain inputs for buyers in the coming marketing year.
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 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 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.