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USDA's March WASDE lowered US wheat supplies and exports, with HRW exports cut by 10 million bushels, and raised the season-average wheat farm price 20 cents to $7.50. Corn exports rose 75 million bushels to 2.5 billion on expected lower Ukrainian exports, and soybean prices rose 25 cents to $13.25.
The report confirms tighter US wheat and corn balance sheets with higher season-average prices, supporting feed grain values and soybean meal costs.
hoosieragtoday.comProductionMar 10, 2022After 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.
After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 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.
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.
