July WASDE Surprises Trade With Old Crop Ending Stocks Reductions

After 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.

• Nov 9, 2021WASDE Report Surprises With Lower Yield, Production, Soy Stocks+1.2%
• Jun 11, 2021Old-Crop Corn Stocks Surprise of WASDE Report | Feed & Grain-6.1%
• Jul 13, 2026Corn Ending Stocks Fall Below Expectations in July WASDE+1.1%
• Sep 13, 2025WASDE: USDA surprises with even bigger corn production+5.1%
• May 12, 2025USDA Reduces Old Crop Corn Ending Stocks, Pegs New Crop Lower Than Expected+0.0%

After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.

• Nov 9, 2021WASDE Report Surprises With Lower Yield, Production, Soy Stocks+6.7%
• Jul 13, 2026Corn Ending Stocks Fall Below Expectations in July WASDE+0.7%
• Sep 13, 2025WASDE: USDA surprises with even bigger corn production-0.0%
• May 12, 2025USDA Reduces Old Crop Corn Ending Stocks, Pegs New Crop Lower Than Expected+0.6%
• Oct 9, 2020Soybeans rally on tight new crop ending stocks+1.2%