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USDA's quarterly Grain Stocks report showed September 1 corn stocks just under 2 billion bushels, down 10% from a year ago and below expectations. Soybean stocks fell 42% and sorghum stocks fell 54%, and futures rallied on the surprise.
Tighter-than-expected stocks across corn, soybeans, sorghum and wheat support prices and reduce old-crop feed supply.
centralmoinfo.comOct 1, 2020After 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.
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.
After 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.
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.
