
USDA's July 12 Grain Supply and Demand report projected 2016-17 U.S. corn ending stocks near 2.1 billion bushels, the largest carryover in many years, based on a 168 bu/acre yield. Corn and soybean prices dropped sharply afterward.
Large projected carryout and a corn season-average price near $3.40 point to ample feed grain supply and lower feed costs for buyers.
After 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.
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.