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USDA's Outlook for U.S. Agricultural Trade projects FY2024 exports at $172.0 billion, down $5.5 billion from FY2023. The decline is driven mainly by lower soybean, soybean meal and dairy exports, while grain and feed exports are forecast up $600 million on higher corn and sorghum volumes.
Lower projected US soybean and meal exports point to weaker foreign demand and softer prices, while higher corn and sorghum volumes support those markets.
farmpolicynews.illinois.eduKeith GoodSep 6, 2023After 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
