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The October 2016 WASDE cut US corn production 36 million bushels to 15.057 billion on lower yields, which trimmed 2016/17 supplies. Soybean production rose 68 million bushels on higher yields to 4,269 million.
Wheat ending stocks for 2016/17 were raised 38 million bushels.
The smaller corn crop supports feed grain prices, while the larger soybean crop and higher wheat stocks add bearish pressure. Feed buyers face mixed signals across grains.
agnetwest.comDanOct 13, 2016After 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.
