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An analyst review of the February WASDE finds 2019-20 U.S. corn ending stocks unchanged at 1.89 billion bushels and soybean stocks slightly lower. USDA kept the farm-level corn price estimate at $3.85 a bushel.
With corn stocks steady and the season-average price unchanged, the report gives little new direction for feed grain prices.
farmforum.netKent ThiesseFeb 20, 2020After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
