Soybeans extend gains after USDA supply outlook cut, corn futures ease

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.

• Dec 1, 2021Corn and soybean futures advance after report, but outlook not bullish | World Grain+2.7%
• Oct 12, 2022Soybeans rally after USDA cuts U.S. harvest outlook | Financial Post-0.3%
• Feb 22, 2021USDA supply outlook pushes soybeans to second session of gains - Markets - Business Recorder+2.0%
• Aug 12, 2019Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%-0.7%
• Jun 30, 2021Corn, soy extend rally after USDA acreage surprise | Financial Post+2.0%

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.

• Aug 12, 2019Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%-6.0%
• Jan 12, 2026Grain Futures Drop After USDA Increases Crop-Supply Estimates - WSJ-2.8%
• Apr 9, 2020USDA raises corn, soy, wheat supply outlook - Country Guide-5.5%
• Sep 30, 2026US corn and soybeans prices fall sharply after USDA stocks surprise | S&P Global-0.5%
• Nov 9, 2022USDA Projects Higher Corn and Soybean Supply+1.6%