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First survey-based estimate of US planted acreage plus quarterly stocks.
USDA NASSAfter 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), and +0.2% over 20.
After 1,283 past report events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -2.0% to +1.7%), and -0.2% 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.
The March 31, 2021 USDA Prospective Plantings report showed soybean acreage (~87.6M acres) well below trade expectations alongside tight quarterly stocks, triggering a limit-type rally in soybeans that lifted soybean meal on tighter expected crush supply.
The March 31, 2021 USDA Prospective Plantings report put soybean intentions near 87.6M acres, well below the roughly 90M the trade expected, and quarterly stocks confirmed tight supplies, so the bullish supply surprise pushed futures to limit-up gains.
The March 31, 2021 USDA Prospective Plantings report showed soybean acreage (~87.6M acres) well below trade expectations alongside tight quarterly stocks, triggering a limit-type rally in soybeans that lifted soybean meal on tighter expected crush supply.
The March 31, 2021 USDA Prospective Plantings report put soybean intentions near 87.6M acres, well below the roughly 90M the trade expected, and quarterly stocks confirmed tight supplies, so the bullish supply surprise pushed futures to limit-up gains.
Anticipation of the USDA Prospective Plantings and Grain Stocks reports drove pre-report positioning and short covering in soy products, which could have lifted meal.
The USDA Prospective Plantings and Grain Stocks release was the scheduled catalyst for the sharp repricing.
