Loading…
Analysts expect USDA's December WASDE to show tighter corn and soybean ending stocks, with trade estimates of 1,691 million bushels for corn and 168 million for soybeans, while wheat stocks remain near historic highs. Adjustments are expected to focus on demand, since yield and acreage changes are reserved for January.
Expected tightening in US corn and soybean stocks, driven by stronger ethanol demand, could support futures and feed costs if the report confirms the estimates.
farmprogress.comJacqueline HollandDec 9, 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.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
