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The Iowa Farm Bureau summarized the December WASDE, which cut US corn and wheat ending stocks for 2024/25 while leaving soybeans unchanged at 470 million bushels. US corn stocks came in more than 160 million bushels below trade expectations.
Global corn, soybean and wheat ending stocks for 2024/25 all declined from November.
Lower US and global corn and wheat carryouts support prices, while the unchanged soybean stocks keep that market steady. Weaker global supplies reinforce the bullish grain outlook for feed buyers.
iowafarmbureau.comAlex Robinson, Research Economist, Decision Innovation Solutions on behalf of Iowa Farm BureauDec 11, 2024After 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 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 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.
