Loading…
CBOT corn and soybean futures rallied as Chinese buying grew and crop conditions deteriorated. USDA rated 64% of US corn good-to-excellent, down five points, and soybeans at 69%.
Wheat posted sharp gains, reaching its highest since July 24.
Falling US crop ratings and strong Chinese export demand support corn and soybean prices, raising feed costs for buyers heading into fall.
grainews.caMark Weinraub, GFM Network NewsAug 25, 2020After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), 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.
Wheat posted sharp gains alongside a corn and soy rally on Chinese buying and crop stress, showing broad grain momentum into the window.
