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Weekly USDA export inspections for the week ending July 11, 2024 showed 1.08 million tonnes of corn, 534,000 tonnes of wheat, 169,000 tonnes of soybeans and 71,000 tonnes of sorghum shipped. Cumulative corn inspections reached 44.6 million tonnes against 34.0 million a year earlier.
Strong corn and wheat export pace supports demand, but soybean shipments are running well behind last year, which is bearish for the soy complex.
feedlotmagazine.comSource Jack ScovilleJul 16, 2024After 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.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), 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.
Not enough comparable past events yet for a historical read.
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.
