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Chicago corn futures ticked up on export demand and easing harvest pressure, with the USDA confirming sales of about 781,000 tonnes of US corn to Mexico. Soybeans eased after USDA confirmed sales to China and undisclosed buyers, and wheat slipped on US Plains rains while drought and poor Australian crops limited losses.
Steady export sales from Mexico and China support US corn and soybean demand, but ample harvest supplies cap gains, leaving feed prices near current levels.
grainews.caHeather Schlitz, ReutersNov 1, 2024After 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 250 past neutral trade events, SOY moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 20 past neutral trade events, KWHEAT moved a median -0.7% over 5 sessions (30% higher; middle half -4.1% to +1.4%), and -4.0% 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.
