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The USDA weekly report showed unshipped wheat, corn and soybean export balances for 2023/24 at 28.13 mmt, up 16% year on year. Net corn export sales rose to 1.28 mmt, while soybean sales were 0.38 mmt and wheat sales 0.08 mmt, both down sharply on the week.
Stronger corn export commitments support corn demand, while weak soybean and wheat sales weigh on those prices in the near term.
doi.orgMar 21, 2024After 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.
After 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 1,006 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.
