A post by @FirstSquawk on X.
USDA’S WASDE REPORT SHOWS U.S. CORN ENDING STOCKS AT 1,758 MLN BUSHELS, BELOW THE PRIOR 1,849 MLN, AND SOYBEAN ENDING STOCKS AT 300 MLN, BELOW THE FORECAST OF 330 MLN AND DOWN FROM 315 MLN
@FirstSquawk on X
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
The USDA’s latest WASDE report cut its U.S. corn ending stocks forecast to 1,758 million bushels from 1,849 million previously, while soybean ending stocks were lowered to 300 million bushels, below the 330 million consensus and down from 315 million. The smaller-than-expected inventories signal tighter domestic balance sheets for both crops, a shift that typically underpins futures prices for corn and soybeans. Traders had positioned for higher soybean stocks, so the 30-million-bushel miss is the larger surprise of the two revisions. Watch for follow-through in Chicago Board of Trade corn and soybean futures and any adjustments to export and crush demand estimates in subsequent USDA updates.
Muhabbit's AI wrote this summary of @FirstSquawk's post in its own words. It can get details wrong, so read the post on X.
Named in this story
USDA, soybeans, corn