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Corn and soybean futures fell sharply after the July WASDE, with September corn closing 43 cents lower at $5.94 and August soybeans down 54 cents at $14.68. Wheat futures dropped 36 to 48 cents, and crude oil fell about $8.50 per barrel that day.
The sharp fall in grain and energy prices lowers feed input costs in the near term, but the report's bearish signals and outside market weakness point to continued downward pressure on feed ingredient prices.
ukragroconsult.comJul 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 788 past bearish report events, SOY 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 moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
