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USDA's June WASDE showed drops in both old-crop and new-crop U.S. soybean ending stocks compared with the prior month and trade expectations. The report raised the U.S. corn outlook with larger beginning stocks and higher ending stocks, and it lifted Brazil's soybean estimate to 126 mmt.
Lower U.S. soybean stocks support soybean and soybean meal prices, while higher corn ending stocks weigh on corn. Brazil's larger crop offsets some of the soybean tightness.
agriculture.comDan LookerJun 10, 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 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.
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.
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.
