◂ Event Timeline

Mar 11, 2020REPORTUS

‘Benign’ WASDE makes minimal changes in numbers

The March WASDE was described as benign, with wheat and corn supply figures unchanged and USDA trimming its expected season-average prices. The agency cut the corn price by 5 cents to $3.80 per bushel and the soybean price to $8.70.

Corn, soybean and wheat contracts closed higher as markets recovered from Monday's losses.

WHY IT MATTERS

The lower season-average price forecasts reflect weaker expected values, but the day's rebound shows the report did not change the near-term outlook for feed grains.

AFFECTSCorn▼Soybeans▼Wheat (SRW)◆

SOURCE
agri-pulse.comSpencer ChaseMar 11, 2020

Price reaction & history

Corn▼bearishSO FAR1d -0.1%5d -6.0%20d -3.6%

After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.

May 10, 2019[Article Headline] | 2019-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.+5.8%
Dec 9, 2022USDA’s WASDE leaves most grain and oilseed estimates unchanged | Agri-Pulse Communications, Inc.+1.9%
Mar 8, 2019Trade turns to weather as potential market mover | 2019-03-08 | Agri-Pulse | Agri-Pulse Communications, Inc.+0.8%
May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.-1.8%
Aug 10, 2017Bearish USDA crop report shakes corn and soybean sectors | 2017-08-10 | Agri-Pulse | Agri-Pulse Communications, Inc.-4.5%

Soybeans▼bearishSO FAR1d -0.6%5d -5.6%20d -2.1%

After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.

Jun 10, 2021Minor changes in June WASDE, traders turn attention to dry weather | Agri-Pulse Communications, Inc.-7.3%
Aug 10, 2017Bearish USDA crop report shakes corn and soybean sectors | 2017-08-10 | Agri-Pulse | Agri-Pulse Communications, Inc.-4.3%
Nov 8, 2019Nation's corn crop is shrinking | 2019-11-08 | Agri-Pulse Communications, Inc.-2.7%
Mar 9, 2021Corn, soy, wheat ending stocks hold steady for March | 2021-03-09 | Agri-Pulse Communications, Inc.-1.3%
Jan 6, 2021USDA: Mexican stance against GMO hurts farmers | 2021-01-05 | Agri-Pulse Communications, Inc.+5.3%

Wheat (SRW)◆neutralSO FAR1d -0.3%5d -4.9%20d -6.1%

After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.

Mar 9, 2021Corn, soy, wheat ending stocks hold steady for March | 2021-03-09 | Agri-Pulse Communications, Inc.-0.2%
Feb 24, 2022USDA sees bigger soy production, exports and crush for 2022-23 | 2022-02-24 | Agri-Pulse Communications, Inc.+6.8%
Nov 9, 2021US soybean production cut in surprise move – WASDE 10.11.2021 - UkrAgroConsult+1.8%
Feb 8, 2024February WASDE Shows Slightly Bearish Demand Changes for US, Only Minor Revisions in Brazil Crops-4.2%
Jul 23, 2024AAFC makes changes in July estimates | Farmtario-5.2%

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.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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