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USDA's December WASDE left 2016-17 U.S. corn, soybean and wheat ending stocks unchanged at 2.403 billion, 480 million and 1.143 billion bushels. The agency raised global production and ending stocks for all three crops, and those world figures came in above pre-report trade averages.
Unchanged U.S. balance sheets are neutral for domestic prices, but larger world supplies add competition for U.S. exports and weigh on global price expectations.
dtnpf.comDec 9, 2016After 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.
