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USDA put December 1, 2020 U.S. corn stocks at 11.322 billion bushels, well below the trade average of 11.951 billion and the lowest estimate of 11.59 billion. The column says this was the largest miss in Dec.
1 stocks since at least 2005 and that such revisions make USDA numbers harder to forecast.
A stocks figure far below expectations means less corn available than the market assumed, which supports corn prices. Greater unpredictability in USDA data also raises risk premiums for feed buyers.
reuters.comKaren BraunJan 13, 2021After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
