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USDA's August Outlook for U.S. Agricultural Trade projects FY2022 farm exports at $177.5 billion and raises FY2021 to $173.5 billion. Soybean exports are forecast at a record $32.3 billion, while grain and feed exports are cut $1.1 billion on lower corn prospects.
The projected lower corn export prospects are bearish for corn demand, while the record soybean export forecast supports soybean prices.
farmpolicynews.illinois.eduKeith GoodAug 29, 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
