Private exporters reported sales of 378,000 metric tons of soybeans to China and 109,000 tonnes of corn to Mexico. An INTL FCStone analyst said US supplies are preferred as Brazil is largely sold out, and noted that the weak Brazilian real is a headwind for US traders.
Fresh export sales to China and Mexico support US soybean and corn prices, though the weak real makes Brazilian supply more competitive.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.