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USDA's May WASDE projected 2019 U.S. wheat carryover at 955 million bushels, down 11% from 2018, and corn carryover at 1.682 billion bushels, down 23%. The soybean carryover was projected at 415 million bushels, down 115 million.
Sharply lower projected carryouts for corn, wheat and soybeans tighten the U.S. feed grain balance for 2018/19, supporting prices for feed ingredients.
world-grain.comRon SterkMay 10, 2018After 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.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
