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CBOT grains closed steady to lower after USDA's weekly export sales report disappointed for corn and soybeans. Market reports said China had not bought US soybeans for two weeks and was focusing on Brazilian supply amid trade friction, while wheat fell sharply and the dollar index rose 0.4% to 91.6.
Weak US export sales and China's shift to Brazilian beans are bearish for US corn and soybean values and related meal. A firmer dollar also weighs on dollar-priced commodities.
kyfb.comApr 26, 2018After 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 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 45 past bullish trade events, US Dollar (Broad) moved a median -0.0% over 5 sessions (42% higher; middle half -0.3% to +0.4%), 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.
