◂ Event Timeline

Mar 4, 2024REPORTUS

Oversized US corn crop responsible for swell in global supplies

USDA estimates suggest 2023-24 global corn ending stocks will rise 7% on the year, with U.S. stocks set to surge 60%. The increase is driven by an oversized U.S. corn crop.

WHY IT MATTERS

Rising U.S. corn stocks add to global supply and weigh on corn prices, reducing feed costs for buyers but pressuring farm returns.

AFFECTSCorn▼DDGS▼

SOURCE
reuters.comKaren BraunMar 4, 2024

Price reaction & history

Corn▼bearishSO FAR1d +3.8%5d +5.1%20d +2.0%

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.

Jan 12, 2026US corn and wheat supplies rise in latest WASDE | Feed & Grain-2.8%
Apr 4, 2017USDA: high corn inventories, reduced maize crop-0.2%
Apr 11, 2023USDA Forecasts Steady U.S. Corn and Soybean Supplies+0.4%
Nov 8, 2021WASDE Preview: Watch for larger U.S. corn, soy supplies+5.9%
May 17, 2023Corn prices fall as supplies expected to increase+2.4%

DDGS▼bearish

Not enough comparable past events yet for a historical read.

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.

Corn CORN · GP ▸

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DDGS DDGS · GP ▸

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