
USDA projected 2019/20 U.S. corn ending stocks at 1.91 billion bushels, slightly below October and above the trade guess of 1.8 billion. Soybean ending stocks were raised 15 million bushels to 475 million.
Soybean prices fell after President Trump said he would not roll back tariffs on China.
Corn stocks were slightly lower but still ample, so feed corn prices stay under pressure. Higher soybean stocks and weaker China trade prospects point to lower soybean and soymeal prices.
After 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 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.
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.