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MarketsFarm reports that the June WASDE projected U.S. 2021/22 corn ending stocks at 1.357 billion bushels, down 150 million from May. The 2020/21 carryout also fell by 150 million bushels to 1.107 billion.
Both cuts were tighter than average pre-report estimates.
Stocks tighter than pre-report expectations support corn prices and signal limited old-crop feed supply. Buyers should plan for firmer corn costs.
grainews.caGFM Network NewsJun 10, 2021After 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 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), 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.
