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The weekly USDA export sales report for the week ended February 22 showed net wheat sales of 327.3 thousand metric tons and corn sales of 1,082.3 thousand, with soymeal at 456.2 thousand. Sorghum sales were 445.5 thousand and rice 60.9 thousand, and the commentary lists CBOT delivery intentions for the month of March.
Solid corn and sorghum export commitments support US feed grain demand, while the data is a routine weekly update with limited new price signal.
blog.pricegroup.comJack ScovilleFeb 29, 2024After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
