Loading…
A farmdoc daily analysis reviews the May WASDE's first 2022/23 balance sheets for corn, soybeans and wheat. It notes that new-crop export sales commitments for corn and soybeans are at record levels for this point in the marketing year.
Record early export commitments support new-crop corn and soybean prices, though high prices may ration demand from price-sensitive importers.
origin.farmdocdaily.illinois.eduHongxia JiaoMay 16, 2022After 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 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), 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.
