Loading…
USDA's July WASDE raised projected 2022/23 and 2021/22 U.S. corn ending stocks, with 2022/23 corn at 1.470 billion bushels versus a trade estimate of 1.433 billion. Soybean ending stocks for 2022/23 fell to 230 million bushels, and wheat ending stocks were 639 million bushels.
Higher corn carryout signals ample feed grain supply, which tends to weigh on corn and feed-ingredient prices, while the smaller soybean carryout offers partial support for soy-complex prices.
agriculture.comCassidy WalterJul 12, 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 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.
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.
