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Grain futures moved moderately lower on Monday on better rainfall forecasts and doubts about China's purchase commitments after President Trump said there would be no Phase Two trade deal. An AgMarket.Net analyst said China still needs to buy U.S. corn given its grain shortage.
Trade uncertainty over Phase One purchase targets and improved weather outlook pressure corn and soybean prices, though expected Chinese buying could support them later.
iowaagribusinessradionetwork.comStaff EditorJul 13, 2020After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
