Loading…
ADM Investor Services' October 2024 commodities overview summarizes the October WASDE, which raised US corn production 17 million bushels to 15.203 billion with a record yield of 183.8 bpa and left 2024/25 corn ending stocks at 1.999 billion bushels. Soybean production slipped to 4.582 billion bushels with 2024/25 ending stocks steady at 550 million bushels.
The report was largely neutral, with corn and soybean balance sheets roughly in line with expectations, so it offers limited new price direction beyond confirming ample supplies.
admis.comADMIS Research TeamOct 22, 2024After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), and +0.2% 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 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.
