Loading…
Soybean futures fell sharply after USDA reported crop conditions improved, with the good-to-excellent rating rising to 59%. Corn-Belt weather forecasts also turned wetter, adding pressure as traders weighed upcoming yield estimates.
Better crop ratings and wetter forecasts raise expected soybean supply, which pushes futures lower for feed buyers. Prices could stay pressured until weather risk returns.
farmprogress.comAug 1, 2017After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), 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.
