
USDA's weekly export sales report showed corn, soybean and wheat sales lower than the prior week. Wheat sales fell to a market-year low and missed trade forecasts, while new-crop corn and soybean sales were in line with expectations.
Weak wheat export demand adds to ample wheat supplies and weighs on wheat prices. Corn and soybean sales were in line with forecasts, so they provide little price direction.
After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 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, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.