Loading…
Soybean futures hit four-month lows despite China signing purchases of about 4 million tons of new-crop U.S. soybeans. Mexico also bought 275,000 tons of new-crop U.S. corn, and Egypt canceled a wheat tender for lack of response.
Export buying was not enough to offset record US production expectations, so soybeans and soybean meal stayed under pressure. Egypt's tender cancellation signals weaker wheat import demand.
brownfieldagnews.comJohn PerkinsAug 31, 2016After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), 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.
