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Chicago wheat futures fell on October 11, 2022 after a three-month high the prior session, as the Russia-Ukraine war raised concerns about Black Sea grain trade. Corn slipped and soybeans firmed as traders awaited USDA crop reports due October 12.
Interior river levels were also a concern for harvest transport.
Pre-report positioning and profit-taking added volatility, while low river levels threaten barge freight and delivered feed grain costs in the central US.
financialpost.comReutersOct 11, 2022After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
