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USDA made only minor adjustments to U.S. corn, soybean and wheat ending stocks in its December report. Corn ending stocks were estimated at 2.13 billion bushels, down from 2.16 billion, while soybean stocks were unchanged and wheat stocks were cut by 25 million bushels.
The small revisions leave the U.S. grain balance largely as expected, so the report has limited price impact.
rrfn.comDon WickDec 8, 2023After 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.
