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Soybeans fell on fund selling as US-China face-to-face trade talks resumed, with an agreement seen as possible but unofficial. Corn closed slightly higher, with 15% planted versus 27% on average after a wet, cold weekend in the Midwest and Plains.
A US-China deal could support soybean and meal demand, but African Swine Fever is expected to cut Chinese import needs. Delayed corn planting supports corn prices and may shift acres toward soybeans.
brownfieldagnews.comApr 29, 2019After 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 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
