◂ Event Timeline

Sep 30, 2020REPORTUS

Corn, soy, wheat surge on lower-than-expected U.S. grain stocks

CBOT corn and wheat futures hit their highest levels since March on Wednesday, and soybeans surged, after the USDA's quarterly stocks report showed smaller-than-expected inventories. Corn supplies dropped by 3.024 billion bushels and soybean supplies by 858 million bushels over the three months to Sept.

1, the second-biggest summer drawdowns on record for both.

WHY IT MATTERS

Tighter-than-expected stocks after strong Chinese purchases of U.S. goods signal firmer prices for feed grains and soybean products into the new crop year.

AFFECTSCorn▲Soybeans▲Wheat (SRW)▲

SOURCE
financialpost.comReutersSep 30, 2020

Price reaction & history

Corn▲bullishSO FAR1d +2.3%5d +1.5%20d +11.3%

After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.

May 10, 2024Corn Surges on Lower-Than-Expected Stocks; Wheat, Soy Finish With Solid Gains After Mostly Neutral Report+2.4%
Jun 30, 2020Corn, soy climb on smaller-than-expected USDA acreage view | Financial Post+3.3%
Dec 9, 2025USDA Lowers U.S. Corn Ending Stocks More Than Expected+0.1%
Jan 12, 2022U.S. grains: Wheat futures fall on bigger-than-expected plantings, stocks - AgCanada-2.6%
Sep 10, 2019Lower U.S. crop condition rating lifts corn, soy and wheat also rise | Financial Post+6.7%

Soybeans▲bullishSO FAR1d +3.1%5d +5.1%20d +9.0%

After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.

Jun 30, 2020Corn, soy climb on smaller-than-expected USDA acreage view | Financial Post+3.3%
Jan 12, 2022U.S. grains: Wheat futures fall on bigger-than-expected plantings, stocks - AgCanada+1.1%
Sep 10, 2019Lower U.S. crop condition rating lifts corn, soy and wheat also rise | Financial Post+6.5%
Apr 8, 2022PF Report Reaction: U.S. corn, wheat ending stocks higher than expected - Pro Farmer+2.2%
Sep 30, 2019U.S. grains: Soy, corn rally on smaller-than-expected stockpiles - Manitoba Co-operator+3.8%

Wheat (SRW)▲bullishSO FAR1d +0.9%5d +2.5%20d +4.6%

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

May 10, 2024Corn Surges on Lower-Than-Expected Stocks; Wheat, Soy Finish With Solid Gains After Mostly Neutral Report+1.9%
Sep 10, 2019Lower U.S. crop condition rating lifts corn, soy and wheat also rise | Financial Post+2.6%
Dec 10, 2024USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report | Feed & Grain-0.2%
Jul 11, 2025USDA Lowers New-Crop Corn Ending Stocks More Than Expected in Latest WASDE.-2.3%
Dec 10, 2024USDA Reduces U.S. Corn Ending Stocks More Than Expected-0.2%

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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Soybeans SOY · GP ▸

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