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A Price Futures Group market commentary summarised the April 9 USDA report against trade survey averages. US corn stocks came in at 1,352 million bushels versus an average of 1,346, and soybean and wheat stocks were near expectations.
World corn stocks were 283.9 million metric tons, and Brazil's soybean production was raised to 136 million metric tons.
The figures were mostly in line with expectations, so there is no major new supply shift. Brazil's larger soybean crop is a modest bearish factor for soybeans.
feedlotmagazine.comSource Jack ScovilleApr 12, 2021After 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
