
USDA's March 2025 WASDE raised 2024/25 U.S. wheat ending stocks to 819 million bushels, above the trade expectation of 796 million and up from 794 million in February. Corn and soybean ending stocks were held unchanged at 1.540 billion and 380 million bushels.
Larger-than-expected U.S. wheat carryout adds supply and weighs on wheat prices, with the bigger wheat balance sheet offsetting the steady corn and soybean numbers.
After 1,006 past bearish report events, WHEAT 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.