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Corn and soybean futures rose briefly after the February WASDE was released, then reversed into losses as traders digested a report with few surprises. Corn was up about 1% and soybeans about 0.5% initially, and March futures later fell.
The muted reaction shows that the main surprises were already priced in from January, so the report adds little new price direction. Argentine drought concerns still underpin the market.
farmprogress.comBen Potter, Bruce BlytheFeb 11, 2025After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
