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A Tennessee extension update summarized the March WASDE, which raised corn ethanol use by 50 million bushels and exports by 175 million bushels. It also noted that global corn ending stocks are projected to fall 1.287 billion bushels year over year.
Higher U.S. corn demand and lower global stocks support corn prices, while the bearish wheat news adds pressure on wheat.
news.utcrops.comChuck Danehower, Extension Area SpecialistMar 12, 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 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 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
