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USDA's Grain Transportation Report notes that U.S. grain stocks were at record levels near the end of 2018, with soybean and wheat stocks up 18% and 7% and corn stocks down 5% from 2017. Fall grain disappearance was 6.4 billion bushels, down 1% year on year.
Heavy stocks, especially of soybeans and wheat, keep supplies ample and cap price upside, while the lower corn stocks offer some support.
doi.orgFeb 21, 2019After 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.
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.
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.
