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USDA's October 11 WASDE raised projected 2019 carryover for corn to 1,813 million bushels, soybeans to 885 million bushels, and all wheat to 956 million bushels. Hard red winter wheat carryover was projected at 424 million bushels.
Higher projected carryover indicates ample supply across corn, soybeans and wheat, which weighs on feed grain and soymeal prices. Buyers face a looser supply outlook.
foodbusinessnews.netRon 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 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.
