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USDA weekly export sales showed wheat sales up 34% week on week to 612,400 MT and corn sales up 46% to 1.71 million MT, largely ahead of the holiday slowdown. Soybean sales fell to a marketing-year low of 978,400 MT, down 31% on the week.
Strong wheat and corn export demand supports prices for those grains, while weak soybean sales add to bearish pressure on soy and soymeal supplies for feed.
brownfieldagnews.comMeghan GrebnerDec 27, 2024After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), 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 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.
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.
