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The Iowa Farm Bureau summary of the November 8 WASDE says U.S. corn ending stocks for 2024/25 came in about 17 million bushels above trade expectations. Soybean ending stocks were 470 million bushels, 65 million below expectations.
World corn, soybean and wheat ending stocks were revised slightly.
The soybean stocks shortfall is the main bullish signal for soy-based feed ingredients. The corn stocks beat limits upside for corn.
iowafarmbureau.comAlex Robinson, Research Economist, Decision Innovation Solutions on behalf of Iowa Farm BureauNov 11, 2024After 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 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.
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.
