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USDA's WASDE report left U.S. corn and soybean supplies largely unchanged, with no changes to U.S. corn, soybean or wheat numbers. Allendale's chief strategist called it a quiet and neutral report for U.S. figures.
With no domestic changes, U.S. prices have no new fundamental driver from this report, so the outcome is neutral for feed grain and oilseed buyers.
iowafarmbureau.comDec 12, 2016After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
