November WASDE May Weigh on Grains, Analyst Says
Marex's Charlie Sernatinger says the USDA's November WASDE report carries bearish risk for corn and soybeans as grains stay under pressure.
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what happened
According to Market Talk, grains remain under pressure even though the harvest is virtually over and momentum indicators show oversold conditions. Charlie Sernatinger of Marex says in a note that the market simply cannot lift its head. The USDA's November WASDE report, due Tuesday, carries bearish risk: average corn yield estimates sit below the USDA's October figure, while soybean yield estimates are higher and could rise further.
The only positive for grains, he says, is firming cash prices for cereals. On CBOT, corn is up 0.2%, wheat is down 1%, and soybeans gain half a cent.
why it matters
The WASDE report sets the reference points for the whole grain market, so revisions to yield estimates often feed quickly into corn and soybean futures. Traders will compare the new figures with the USDA's October data and with market expectations.
market impact
Corn and soybeans: the WASDE report may press prices through revised yield estimates
- Corn (CBOT) pressure down — yield estimates sit below the USDA's October figures
- Soybeans (CBOT) mixed — higher yield estimates weigh, while firming cash markets support
tags
instruments
sources
- November WASDE Has Bearish Risk for Grains — Market Talk, 6 November 2026 at 17:24 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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