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USDA's February WASDE lowered Argentine and Brazilian corn output by 1 million tons each and cut Argentine soybean production by 3 million tons to 49 million. These reductions pushed global ending stocks lower for corn, soybeans and wheat, all below trade expectations.
Lower South American supplies and tighter global stocks support corn and soybean prices, which would raise feed costs for importers that rely on South American origin. The U.S. balance sheet was unchanged.
farmweeknow.comRHIANNON BRANCH FarmWeekFeb 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 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
