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USDA's September Grain Stocks report showed corn stocks of 2.114 billion bushels, well below trade expectations of 2.3 billion, and barley and sorghum stocks were also reported. December corn futures rose about 4.6 percent that week on the surprise.
A bullish stocks surprise tightens the old-crop corn and sorghum balance, supporting feed grain prices for buyers.
grains.orgOct 3, 2019grains.orgOct 3, 2019Not enough comparable past events yet for a historical read.
After 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 250 past neutral report events, SBM moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
