Loading…
The January 2024 WASDE raised U.S. corn production 108 million bushels on a record 177.3 bushels per acre yield, and corn ending stocks rose 31 million bushels to 2.162 billion. Global ending stocks were increased for corn, soybeans and wheat, despite South American weather concerns.
Record U.S. output and higher global stocks across three grains point to bearish feed grain pricing through the coming marketing year.
cihedging.comJan 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, SOY 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 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.
