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USDA quarterly stocks showed soybean stocks of 438 million bushels as of Sept. 1, nine percent above estimates, with corn and wheat stocks also above expectations.
Grain futures slumped on Friday, with December corn sliding 2.3 percent to about $3.56.
Bigger-than-expected inventories and a looming harvest add to oversupply, pushing feed grain and soymeal prices lower while weak China demand limits soybean exports.
country-guide.caTom PolansekSep 28, 2018
grainews.caTom Polansek, GFM Network NewsSep 28, 2018After 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 1,102 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
