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U.S. soybean futures ended flat on November 30 as hopes that China would boost U.S. purchases after offering tariff waivers were offset by a lack of confirmed buying and a faster U.S. harvest. Corn was flat on harvest pressure and wheat firmed slightly.
Beijing reportedly offered waivers covering up to 10 million tonnes of U.S. soybeans.
Tariff waivers could lift future U.S. export sales if purchases follow, but without confirmed buying and with harvest pressure, near-term prices lack direction for feed buyers.
feedandgrain.comNov 30, 2020After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 480 past neutral trade 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 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
