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USDA's June quarterly stocks report showed soybean stocks at a record 1.790 billion bushels as of June 1, with corn stocks at 5.202 billion bushels and wheat stocks at 1.072 billion bushels. Corn planting came in above expectations despite spring floods, and prices fell.
Large stocks and higher-than-expected corn acreage point to ample supply, pressuring corn and soybean prices and easing feed grain costs.
agriland.ieSiobhán WalshJun 29, 2019
reuters.comMark WeinraubJun 28, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
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.
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.
