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USDA export inspections for the week ending January 25, 2024 showed corn at 901,958 tonnes and soybeans at 889,717 tonnes, with wheat at 264,666 tonnes. Wheat futures fell on weakness in EU offers, with some support from Red Sea shipping disruptions.
Steady US corn export inspections support demand, while lower EU wheat offers pressure world wheat prices. Red Sea disruptions add freight-related support to wheat.
blog.pricegroup.comJack ScovilleJan 30, 2024After 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 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.
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.
