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USDA reported unshipped wheat, corn and soybean export balances for MY 2023/24 of 35.17 million tonnes, up 17% year over year. Net weekly corn, soybean and wheat export sales all rose sharply from the prior week.
Iowa waived hours-of-service rules for fuel haulers through February 9 due to high fuel demand and icy roads.
Strong export commitments support US grain prices, while the fuel-hauling waiver signals tight diesel supply that can raise transport costs for feed ingredients.
doi.orgJan 25, 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), 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.
