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USDA’s November WASDE lowered U.S. corn production and yield estimates, with the corn production reduction larger than trade expectations. U.S. soybean production and yield estimates rose, while projected U.S. ending stocks fell for both corn and soybeans; global ending stocks increased for corn and wheat and declined for soybeans.
The tighter U.S. corn and soybean stock projections are supportive of domestic prices, while higher global corn and wheat stocks are a counterweight for those markets. Reduced global soybean stocks add support to soybeans, despite the larger U.S. crop estimate.
agriculture.comNov 10, 2026After 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 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.
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.
