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The May WASDE showed US corn, soybean, and wheat stocks compared with USDA's prior outlook and trade expectations. Corn 2022/23 ending stocks came in at 1.360 billion bushels, soybean stocks at 310 million, and all-wheat stocks at 619 million.
Corn stocks above trade expectations are mildly bearish, while lower wheat stocks support prices, so the net effect on feed grain prices is mixed.
grainpricenews.comMike VerdinMay 12, 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 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.
