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DTN reports December 2024 corn and November 2024 soybeans have traded sideways since August, with the DTN cash corn index at $4.40 and soybeans near $12.70. USDA projects 2023-24 US ending corn stocks at 2.16 billion bushels and soybean stocks at 245 million bushels, the lowest in eight years.
Ample corn stocks are bearish, while tight soybean stocks support soy-based feed prices; the outlook depends heavily on South American and US weather.
dtnpf.comTodd HultmanNov 27, 2023After 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.
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.
