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DTN's review of the March WASDE said the report was not expected to move the market, and the post-report price change was negligible. Corn ending stocks rose 100 million bushels and wheat ending stocks rose 45 million bushels, while soybeans fell further on fund and technical selling.
Bearish corn and wheat balance-sheet changes were largely priced in before the release, so the market impact stayed limited. Soybean weakness reflects continued fund selling rather than new supply news.
ocj.comJoel PenhorwoodMar 11, 2019After 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 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 1,006 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.
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.
