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Farmdoc daily reviewed the June 10 WASDE and noted only minor changes to U.S. corn, soybean and wheat balance sheets. Corn futures rose four cents, soybeans fell 14 cents and soft red winter wheat dropped one cent after the report.
Limited new information on crop size means prices will depend on weather and the June 30 Acreage report. Current balance sheets give little direction for feed grain or oilseed values.
origin.farmdocdaily.illinois.eduHongxia JiaoJun 13, 2022After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
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.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), 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.
