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USDA's April 2025 WASDE lowered 2024/25 U.S. corn ending stocks by more than trade expectations and cut soybean ending stocks when an increase was expected. Wheat ending stocks rose above expectations, and global corn and wheat stocks were slightly lower while soybean stocks were higher.
USDA left Argentina and Brazil corn and soybean production unchanged.
A tighter-than-expected U.S. corn carryout supports corn prices and feed costs for buyers, while higher wheat stocks add some bearish pressure on wheat and wheat-based feed alternatives.
agriculture.comCassidy WalterApr 10, 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.
