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Soybean futures gained on May WASDE day while corn and wheat fell sharply. Allendale broker Greg McBride noted that old-crop corn carryout of 1.257 billion bushels was slightly better than expected, while new-crop corn at 1.507 billion and wheat stocks were higher than anticipated.
Bearish new-crop corn and wheat stocks outweigh the tight old-crop corn picture, pressuring those markets relative to soybeans.
iowaagribusinessradionetwork.comRiley SmithMay 12, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
