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INTL FCStone analyst Arlan Suderman said the June WASDE contained no major surprises and reassured markets that supplies are ample. He said markets would need a sharp rise in Chinese buying or a significant weather event to move higher.
Ample US supplies keep corn and soybean prices under pressure absent new demand from China or a weather threat to supply, which matters for feed cost outlooks.
brownfieldagnews.comJun 11, 2020After 770 past neutral report 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 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
