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Grain markets rallied after USDA's November WASDE report, with corn, soybeans and wheat posting gains despite several bearish projections. The report cut corn production by 141 million bushels, lowering the yield estimate by 1.5 bushels per acre, and cut the season-average corn price forecast to $4.60 per bushel.
Soybean ending stocks were projected to fall by 15 million bushels on higher seed use.
Lower U.S. corn output and tighter soybean ending stocks reduce feed grain and soymeal supply, supporting prices for feed buyers. The reversal from October's lows shows the market reacting to the production cut rather than the bearish demand adjustments.
aol.comMarc JacobsNov 11, 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 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.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
