Loading…
Soybeans and corn fell on commercial and technical selling after the USDA projected record crops. The International Grains Council raised its 2016/17 soybean and corn production estimates, and wheat also declined on large supplies.
Record production forecasts from USDA and IGC point to ample supplies, which weighs on prices for soybeans, corn and wheat.
brownfieldagnews.comJohn PerkinsAug 25, 2016After 788 past bearish report events, Soybeans 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.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
