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USDA export sales data for the week ending July 1 showed wheat sales above 290,000 metric tons, corn sales of 173,000 tons, and soybean purchases below 64,000 tons. China was a light buyer, with no sorghum bought in the past week and little interest in US grains overall.
Weak Chinese buying of US sorghum, corn and soybeans reduces export demand and pressures US feed grain prices as buyers turn to cheaper alternatives.
allagnews.comTony St. JamesJul 12, 2021Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
