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Grain futures traded mixed after bearish technical selling the prior Tuesday, as traders awaited US-China trade talks and USDA's annual outlook conference with 2019 acreage forecasts. Corn and soybeans recovered somewhat on short covering.
Pending USDA acreage data and a possible US-China trade framework are key catalysts that could move corn, soybean and wheat prices sharply in the coming days.
farmprogress.comNational Hog Farmer StaffFeb 22, 2019After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), 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.
