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Soybean and other oilseed futures hit record highs in March, while maize reached near-record levels, according to AMIS. USDA's Prospective Plantings report showed farmers intend to plant a record 90.96 million acres of soybeans for 2022/23.
Soybean prices have eased in recent weeks after that report was seen as better than expected.
A record US soybean acreage outlook is bearish for future supply tightness, partly offsetting strong global demand and high prices for feed buyers.
aquafeed.comAquafeed Media SLUApr 14, 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 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.
