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USDA's January WASDE lowered 2020/21 U.S. wheat ending stocks by 26 million bushels to 836 million and raised the season-average price to 4.85 dollars. Soybean production fell 35 million bushels to 4.135 billion, and oilseed output was trimmed 1.25 million tons with smaller soybean, peanut and cottonseed crops.
Lower U.S. wheat and soybean supplies tighten feed and oilseed availability and support prices. Smaller cottonseed and peanut crops also reduce supplies of cottonseed meal.
kfgo.comRusty HalvorsonJan 12, 2021After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
