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Outlook commentary says 2018 starts with slightly larger carryover corn and wheat stocks than expected, along with steady to firm consumption. Acreage increased, and wheat and corn ending-stock levels are described as a factor in the price outlook.
Production problems earlier in 2017 were offset by record yields.
Larger carryover stocks keep a lid on feed grain prices, as supply comfortably exceeds demand.
farmprogress.comKim Anderson, Mark Welch, Trent MilacekJan 10, 2018After 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 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
