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The USDA ERS third-quarter trade outlook raised its FY2021 US agricultural export forecast by $9.5 billion to $173.5 billion and projects $177.5 billion for FY2022. The increase reflects record forecasts for soybeans, cotton and horticultural products, along with a revised WTO-based definition of agricultural trade.
Record projected soybean exports point to strong US demand and tight supplies, which is supportive for soybean prices. The definition change affects headline totals more than physical flows.
agamerica.comDonya-Faye WixSep 1, 2021After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
