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Compared with March 12, cash corn and wheat bids were mixed while sorghum and soybeans rose, per the National Grain Market Summary. Corn held near six-month highs on Argentine dryness and USDA's ending stocks estimate of 2.127 billion bushels.
Corn's firmness near six-month highs reflects supply tightness from Argentina's drought and US stocks data, which supports feed grain costs.
hpj.comHPJ StaffMar 19, 2018After 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.
Not enough comparable past events yet for a historical read.
After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 406 past neutral report events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
