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An analyst commentary on the October WASDE says USDA raised corn and soybean yield estimates, adding 234 million bushels to corn and 27 million to soybeans for 2026-27 versus September. It notes managed money holds large net-long positions, including in soybean meal, and that Treasury yields are at 24-year highs.
Larger domestic corn and soybean supplies are bearish for feed grain and meal prices, though fund positioning and China's weaker livestock demand add downside risk to futures.
ocj.comAllison KinneyNov 1, 2026After 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
