Black Sea grain traders shifted focus to corn upon September USDA report release: Refinitiv Agriculture

After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.

• Jul 15, 2019Black Sea origins set for fast start to export season: USDA - Grain Central-0.5%
• Apr 13, 2021USDA decided to revise its Black Sea grain export estimates+4.1%
• Sep 26, 2019Grain Transportation Report, September 26, 2019+0.9%
• Feb 9, 2021Lower-than-expected corn export estimate headlines ho-hum USDA report - RealAgriculture+8.5%
• Feb 6, 2024US Department of Agriculture grain report hits Australian prices | The Land | NSW-3.6%

After 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.

• Mar 22, 2021Why these USDA reports could lead to big grain price swings+10.7%
• Sep 24, 2019China’s Retaliatory Tariffs on U.S. Agriculture: In Brief - EveryCRSReport.com-0.7%
• May 12, 2022Corn, Soybean Production Numbers as Expected in May USDA Report-0.3%
• Dec 12, 2016Grain market steady after USDA report - Farmers Weekly+1.3%
• Nov 10, 2021USDA November WASDE Reports Recap | Feed & Grain+0.3%