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The September 2024 WASDE raised US corn production 39 million bushels and cut 2024/25 soybean production 3 million bushels. World corn and wheat ending stocks rose slightly for 2023/24, while world soybean stocks eased.
Higher US corn output and a slight rise in world corn stocks point to ample feed grain supply and softer corn prices. Lower soybean output provides minor support to soy complex values.
iowafarmbureau.comAlex Robinson, Research Economist, Decision Innovation Solutions on behalf of Iowa Farm BureauSep 16, 2024After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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 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.
