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Chicago December wheat rose 11.5 cents to 712.25 cents per bushel and Kansas HRW gained 14.25 cents, with corn and soybeans also firmer. Crude oil rose about $2, and US soybean export cancellations by China were noted.
Markets were debating Chinese purchases of Brazilian soybeans.
Higher grain and energy prices lift feed costs, while Chinese cancellations of US soybeans shift demand toward Brazil.
graincentral.comGuest AuthorSep 15, 2021After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
After 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.
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.
