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Soybeans and corn eased on speculative and technical selling as US crop development conditions remained generally good. The USDA projected a record soybean crop and expected record demand in the next marketing year.
Ethanol production and stocks were also reported, with stocks rising 392,000 barrels in the week.
Good crop weather and a record US soybean crop point to ample feed supplies for buyers. Rising ethanol stocks suggest slowing corn demand from the ethanol sector.
brownfieldagnews.comJohn PerkinsAug 24, 2016After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% 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.
