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Soybeans fell sharply on commercial and technical selling after USDA data showed September 1 soybean stocks near the high end of estimates and up 7% on the year. Corn rose on commercial and technical buying despite stocks 12% above last year, below expectations, and wheat also firmed.
Heavier-than-expected soybean stocks and weak export demand weigh on soymeal and soyoil, while corn's firm finish supports feed grain costs.
brownfieldagnews.comSep 30, 2022After 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
