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RealAgriculture's weekly wrap says grain markets rose on a friendly September WASDE, with soybeans reaching new two-year highs near $10/bu. Wheat fell as global production and stocks rose on larger crops in Canada, Australia and the EU.
Soybean strength supports soybean meal and oil values, while bigger world wheat supplies pressure wheat prices, a pattern that persists for feed buyers choosing between grains.
realagriculture.comBrennan TurnerSep 11, 2020After 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 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
