Traders are positioning ahead of Tuesday’s USDA Crop Production and WASDE reports. Analysts surveyed expect a slightly lower corn yield and production, a higher soybean yield and ending stocks, and a small increase in wheat ending stocks.
The expected reduction in corn production could support corn prices, while larger projected soybean and wheat stocks could weigh on those markets. These are pre-report expectations, and USDA’s figures may differ.
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.
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 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.