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USDA's February WASDE cut Argentina's soybean crop by 3 million metric tons to 49 million and trimmed Argentina and Brazil corn output by 1 million tons each. Global ending stocks for soybeans fell 4 million tons to 124 million, below pre-report expectations.
Lower South American output and tighter world stocks support corn and soybean prices, and reduce the export supplies available for feed importers. Wheat was unchanged on a global basis.
dtnpf.comDTN StaffFeb 11, 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 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
