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USDA raised 2017/18 U.S. ending stocks projections for corn, soybeans and wheat. Wheat stocks were put at 989 million bushels versus 960 million in December, and corn stocks at 2.477 billion bushels.
Larger projected ending stocks signal ample supplies for feed grains, which tends to cap prices for corn, wheat and soybeans for feed buyers.
brownfieldagnews.comJan 12, 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 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.
