
The article reviews recent futures prices and the market outlook ahead of USDA’s November WASDE report. It notes that October estimates raised U.S. soybean and corn ending stocks, and that analysts surveyed ahead of the next report expected a further increase in soybean stocks; it also says U.S. wheat stocks remain below the prior year but are not critically tight.
Expectations for larger soybean stocks and already elevated corn stocks could weigh on prices if the WASDE confirms ample supply, while the wheat balance offers some support. Any deviation from market expectations could prompt price volatility for feed buyers.
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 1,102 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 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.