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USDA's Sept. 1 grain stocks report showed old-crop corn ending stocks at 1.76 billion bushels and soybean stocks at 342 million bushels, both at the low end of pre-report estimates.
Soybean usage from June to August totaled 628 million bushels, up 18% year over year.
Tight old-crop corn and soybean stocks, combined with strong crush and export usage, support near-term feed grain and meal prices. Downward revisions to 2023 soybean production add to the tighter picture.
dtnpf.comDTN StaffSep 30, 2024
livemint.comReutersSep 30, 2024After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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 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 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.
