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USDA's April WASDE left U.S. corn ending stocks unchanged and made only minor changes to wheat and soybean stocks. The agency cut corn feed and residual use by 25 million bushels and raised ethanol demand, while leaving exports unchanged.
Wheat and soybean figures were within trade expectations.
Unchanged corn stocks despite a shift from feed to ethanol use keeps the U.S. balance sheet steady, so the report gives little new direction for feed corn prices.
rrfn.comCarah HartApr 8, 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.
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.
