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CBOT grains closed higher on Wednesday as funds bought about 12,000 corn, 5,500 soybean and 4,800 wheat contracts. Eastern Australia's drought is deepening, and President Trump confirmed a high-ranking team would travel to China for trade talks.
Reported shipping delays out of Argentina may shift some demand toward US soybeans and meal.
US-China trade talks and Argentine shipping delays support soybeans and soybean meal, as buyers may turn to US supply. Australian drought adds support to wheat prices.
en.xfafinance.comApr 26, 2018After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
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.
