
Corn and soybean futures rallied on November 11 after USDA's November WASDE report. Corn rebounded about 4.50 USD/bushel from a three-month low near 4.40, after USDA cut its 2026/27 US yield forecast to 179.6 bu/acre from 181.2 and reduced ending stocks to 1.758 billion bushels.
Soybeans rose about 3% above 12 USD/bushel despite a higher US production forecast.
A lower US corn yield and tighter ending stocks raise the cost of corn-based feed ingredients, and the soybean rally lifts soybean meal costs. Feed buyers, including those in Vietnam, face higher raw material prices.
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 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.
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.