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USDA's December 1 stocks data show Northwest all-wheat storage up 18% from a year earlier, with Idaho, Oregon and Washington all higher. Barley and oat stocks also rose in the region, while corn stocks fell.
Nationally, wheat stocks were 1.28 billion bushels, down from 1.38 billion a year earlier.
Higher regional wheat, barley and oat stocks add to near-term supply and weigh on prices, while the national wheat decline is a partial offset. Lower corn stocks are a mild supportive factor.
qa.morningagclips.comChandler HansenJan 18, 2023After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 72 past bearish report events, Oats moved a median +0.2% over 5 sessions (50% higher; middle half -3.7% to +3.8%), and -2.5% over 20.
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.
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.
