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USDA left US ending stocks unchanged in the March WASDE at 1.502 billion bushels corn, 120 million soybeans and 836 million wheat. Analysts expect USDA to wait until May to revise US balance sheets.
World soybean ending stocks were raised 0.3 million tonnes to 83.7 million.
With US stocks unchanged and tight, the report leaves soybeans supported, while the small world stock increase is a minor offset.
agweek.comMichelle RookMar 9, 2021After 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.
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 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.
