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The Scottish agribusiness outlook notes world wheat prices under pressure from a large Russian export surplus, while Brazil's record soya and maize harvests weigh on feed grain and oilseed values. USDA's first 2023 estimates point to larger US wheat and corn areas, with high interest rates favouring soybeans over maize.
Heavy South American supply and large Russian wheat exports keep feed grain prices under pressure, while US acreage shifts may tighten the corn balance later.
fas.scotFeb 28, 2023After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 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.
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.
