Corn and Soy Complex Surge on Bullish USDA Stocks and Production Data

After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.

• Jul 12, 2018USDA Bumps Corn and Soybean Production, Drops Soybean Exports+2.9%
• Oct 13, 2023Soybeans Soar on USDA WASDE Bullish Yield and Stocks Data, Grains Follow+0.2%
• Aug 11, 2023USDA Lowers Corn and Soybean Yields and Production-1.6%
• May 10, 2024USDA Lowers Estimates for Brazil Corn and Soy Production+2.4%
• Jul 12, 2024USDA Hikes Corn Production, but Lowers 2024-25 Corn Ending Stocks-2.4%

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.

• Oct 13, 2023Soybeans Soar on USDA WASDE Bullish Yield and Stocks Data, Grains Follow+2.0%
• Aug 11, 2023USDA Lowers Corn and Soybean Yields and Production-5.3%
• Sep 12, 2019USDA Lowers Corn, Soybean Production and Yield - ProAg+4.1%
• May 10, 2024USDA Lowers Estimates for Brazil Corn and Soy Production+2.0%
• Jun 12, 2018Futures rally on bullish corn, soybean data-4.7%

After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.

• Oct 13, 2023Soybeans Soar on USDA WASDE Bullish Yield and Stocks Data, Grains Follow+7.9%
• Aug 11, 2023USDA Lowers Corn and Soybean Yields and Production-5.6%
• May 10, 2024USDA Lowers Estimates for Brazil Corn and Soy Production-0.6%
• Jun 11, 2019U.S. Corn Production, Supplies Fall, USDA Says+3.5%
• Oct 9, 2020U.S. Corn and Soybean Production Down from September+3.6%