
Corn futures made new contract and three-year highs as funds bought on technical signals and concerns about a tightening balance sheet. Crop ratings fell 3% to 57% good to excellent, and China was reported buying soybeans.
Falling crop ratings and Chinese soybean purchases tighten supplies for feed ingredients. The price direction is bullish for corn and soybeans.
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.