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US corn stocks on September 1 fell sharply from 62.1 to 53.6 million tonnes, triggering a corn price spike. The rally lifted US wheat futures, with December SRW up about $1.10/t in Chicago while HRW and HRS fell.
A much tighter-than-expected corn carry-in supports feed grain prices and spills over into wheat as a feed substitute, raising feed costs for buyers.
latifundist.comOct 3, 2019After 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 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
