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Zaner's Ted Seifried called the February USDA report underwhelming and bearish. USDA left corn stocks unchanged at 1.89 billion bushels, shifted 50 million bushels of corn from exports to ethanol, and cut soybean stocks by 50 million bushels for export.
The corn balance sheet was unchanged, so the report offers little support for corn prices and feed costs in the near term.
rrfn.comCarah HartFeb 11, 2020After 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.
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.
