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USDA's weekly export sales report for the week through August 20 showed corn sales of 57.1 million bushels, at the high end of expectations, with China the largest buyer. Soybean new-crop sales reached 68.9 million bushels and wheat surpassed trade guesses, while sorghum sales were 12.5 million bushels.
Strong corn, soybean and sorghum sales point to firm US export demand, supporting prices for feed grains, though cumulative old-crop corn sales still trail last year's pace.
feedstuffs.comBen PotterAug 27, 2020After 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 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.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
