
USDA's March WASDE left US corn, soybean and wheat ending stocks unchanged from February at 1.5 billion, 120 million and 836 million bushels. It raised Brazil's soybean production estimate to 134 million tons, slightly above trade expectations.
Analysts said the next key report is Prospective Plantings on March 31.
Unchanged US balance sheets offer little new direction for prices, while the higher Brazil soybean crop estimate adds modest bearish pressure on soy.
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.
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 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.