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The January WASDE raised projected 2021/22 US wheat ending stocks by 30 million bushels to 628 million, with exports cut 15 million bushels. US corn production was estimated at 15.115 billion bushels, up 53 million.
Higher US corn output and larger wheat stocks are bearish for prices, reducing the export competitiveness and feed value outlook.
kfgo.comRusty HalvorsonJan 12, 2022After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
