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The USDA says the large global stockpiles of agricultural commodities built up in recent years are set to start declining. Robust livestock feed demand and drought from Kansas to the Black Sea have helped reduce the record oversupply.
Falling global stocks would tighten grain supply and support prices, though trade-tariff fears have so far limited any rebound.
wsj.comBenjamin ParkinJul 19, 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.
