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DTN previewed the October 12 USDA Crop Production and WASDE reports, expecting higher U.S. corn and soybean ending stocks for 2021-22 and lower wheat stocks. The Sept.
1 corn stocks of 1.236 billion bushels were above expectations, and Dow Jones analysts expected the corn crop near 15.0 billion bushels. Traders had already reacted to the September 30 reports.
Expectations of higher corn and soybean stocks point to softer feed grain and meal prices, while the anticipated wheat drawdown could support wheat values.
dtnpf.comTodd HultmanOct 11, 2021After 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.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
