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Chicago soybean futures edged lower on Thursday, falling for a third session out of four on concerns about declining Chinese demand amid the coronavirus epidemic and lockdowns in several Chinese regions. Wheat traded near its highest since late January after Australia said its 2019/20 harvest missed forecasts due to drought.
Corn was up 0.2%.
Weaker Chinese crush and feed demand pressures soybean and meal prices, while Australian crop shortfalls support wheat and feed-grain alternatives.
financialpost.comReutersFeb 20, 2020After 50 past bearish disease events, Soybeans moved a median +0.5% over 5 sessions (58% higher; middle half -1.7% to +2.4%), and +0.0% over 20.
After 167 past bearish disease events, Soybean Meal moved a median -0.6% over 5 sessions (40% higher; middle half -1.8% to +1.4%), and -0.8% over 20.
After 14 past disease events, Wheat (SRW) moved a median -0.3% over 5 sessions (29% higher; middle half -0.7% to +0.5%), and -0.8% over 20.
After 145 past neutral disease events, Corn moved a median +0.4% over 5 sessions (58% higher; middle half -1.2% to +1.7%), 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.
