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Grain futures showed little reaction to the March WASDE, with soybeans rising more than 0.75% immediately after the report. Corn edged higher while wheat was mixed and mostly lower.
The report was not a major price driver this month.
Soybean strength reflects improving exports and historically tight stocks, which supports soybean meal and feed costs. The muted corn and wheat moves mean feed buyers face little change in grain pricing from the report.
farmprogress.comBen PotterMar 8, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
