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USDA's October 11 WASDE raised projected 2019 carryover for corn to 1.813 billion bushels, soybeans to 885 million bushels, and all wheat to 956 million bushels. Changes to wheat were mostly minor and tied to prior grain stocks and small grains reports.
Higher carryover projections signal more supply than previously expected, which pressures feed grain and soymeal prices. Buyers may see less urgency to secure forward supplies.
world-grain.comRon SterkOct 12, 2018After 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.
