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The Ag Information Network reported on the October WASDE, with corn 2022/23 ending stocks at 1.172 billion bushels against a trade estimate of 1.126 billion. Soybean ending stocks came in at 200 million bushels, below trade expectations of 245 million.
Wheat ending stocks were 576 million bushels, down from 610 million in September. The segment also covered American Farm Bureau farm bill priorities.
Corn stocks above expectations are bearish, while soybean stocks below expectations support prices. The lower wheat stocks provide some offset.
aginfo.netOct 20, 2022After 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.
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.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
