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Corn finished modestly lower on March 20, 2017 on profit taking and technical selling. South Korea bought 132,000 tons of 2016/17 US corn, and Brazil's combined crop estimate was raised to 98 million tons.
Taiwan was tendering for 98,200 tons of US milling wheat.
Higher Brazilian corn estimates increase export competition for US corn, though South Korean and Taiwanese purchases provide some demand support for US supplies.
brownfieldagnews.comJohn PerkinsMar 20, 2017After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
