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Grain Price News tabulates the key figures from USDA's November 9 WASDE against Reuters market expectations. US corn production was 13,930 million bushels, 43 million above expectations, and soybean production was 4,346 million bushels, 31 million above.
Production and stock figures above trade estimates signal a looser US corn and soybean balance, which supports lower prices. World wheat stocks came in above expectations too, adding to bearish pressure.
grainpricenews.comMike VerdinNov 9, 2022After 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 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.
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.
