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USDA's March WASDE raised 2017-18 U.S. corn use for exports and ethanol, cutting new-crop ending stocks by 225 million bushels to 2.127 billion. USDA also lowered Argentina's corn crop to 36 million tonnes on February drought and trimmed U.S. soybean exports on a larger Brazilian crop.
Tighter U.S. corn stocks support corn prices, while lower soybean export demand weighs on soybeans and wheat, according to analysts quoted in the article.
dtnpf.comChris Clayton DTN Ag Policy Editor, Emily Unglesbee DTN Staff ReporterMar 8, 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 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.
