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USDA data for the week ending January 23 showed sorghum export inspections of 142,217 tons and soybean inspections of 1,038,840 tons, both above projected needs. Wheat and corn inspections were also reported, with the next supply and demand estimates due February 11.
Strong sorghum and soybean export pace supports demand for US supplies, a modestly bullish signal for feed grain prices.
brownfieldagnews.comJan 27, 2020Not enough comparable past events yet for a historical read.
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 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.
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.
