◂ Event Timeline

Nov 9, 2022REPORTUS

WASDE reveals small crops are done getting smaller

Agri-Pulse reports that USDA raised corn and soybean production on higher yields in the November 9 WASDE and offset some of the gains with higher domestic use. USDA left export forecasts unchanged, and the soybean price forecast for 2022/23 was held at $14.00 per bushel.

WHY IT MATTERS

Export forecasts that have not yet been cut look overstated given the strong dollar and low Mississippi River water, so downward export revisions could follow. Higher soybean crush supports meal demand.

AFFECTSCorn▼Soybeans◆Soybean Meal▲

SOURCE
agri-pulse.comJacqui FatkaNov 9, 2022

Price reaction & history

Corn▼bearishSO FAR1d -0.3%5d +1.6%20d -5.7%

After 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.

Soybeans◆neutralSO FAR1d +1.1%5d +0.9%20d +1.9%

After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.

Dec 12, 2018Few surprises in last WASDE of 2018 | 2018-12-11 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.8%
May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+4.9%
Jan 10, 2020Markets breathe easy with neutral WASDE report | 2020-01-10 | Agri-Pulse Communications, Inc.-1.0%
Dec 9, 2022USDA’s WASDE leaves most grain and oilseed estimates unchanged | Agri-Pulse Communications, Inc.-0.9%
Feb 20, 2020USDA: Mixed 2020 farm outlook on small export increase, record production | 2020-02-20 | Agri-Pulse Communications, Inc.-1.8%

Soybean Meal▲bullishSO FAR1d -0.3%5d -1.9%20d +8.4%

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.

Jun 30, 2023More corn, less soybeans revealed in USDA crop acreage, grain stocks reports | Agri-Pulse Communications, Inc.+1.6%
Apr 9, 2026USDA raises price estimates for several commodities | Agri-Pulse Communications, Inc.+5.8%
Oct 25, 2023U.S. soybean meal exports set record, expected to go higher next year | Agri-Pulse Communications, Inc.-0.1%
Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+0.7%
Feb 24, 2022USDA sees bigger soy production, exports and crush for 2022-23 | 2022-02-24 | Agri-Pulse Communications, Inc.-1.7%

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.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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