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USDA's April WASDE raised global wheat and soybean stocks, with wheat ending stocks at 252.3 million tons and soybean stocks a record 87.4 million tons. U.S. wheat ending stocks rose 30 million bushels to 1.159 billion, near a 30-year high.
Global oilseed production was raised 5.4 million tons, mainly on South American soybeans.
Record global supplies cap prices for wheat and soybeans, so feed buyers can expect ample supply through the coming year.
discoverweyburn.comApr 19, 2017After 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 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.
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.
