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The USDA Grain Transportation Report discusses how U.S. grain exports stayed low in marketing year 2021/22 despite high world prices. Corn and soybean exports were down 9% combined, and exports were projected to fall further in 2022/23 while wheat exports were projected to rise.
Weak U.S. export volumes reduce grain transportation demand and leave more supply domestically, which is bearish for corn and soybean prices.
doi.orgSep 1, 2022After 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 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
