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USDA's April 11 WASDE data is compared with Reuters poll expectations. US corn stocks were 2.122 billion bushels, 20 million above expectations, and soybean stocks were 340 million, 21 million above.
US all-wheat stocks were 698 million bushels, 7 million above expectations.
Stocks above expectations across corn, soybeans and wheat signal looser supply than the market had priced in, which weighs on prices. Feed buyers face lower near-term price pressure.
grainpricenews.comMike VerdinApr 12, 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 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.
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.
