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Global grain prices rose not from exchange gains but from firmer premiums tied to oil prices. Soybean meal spot premiums increased about $20 per ton over ten days, and the weaker euro lifted euro-denominated fixed prices by 10 to 15 euros.
Higher energy-linked premiums raise physical soymeal and grain costs for feed buyers even without futures gains, while the weaker euro offsets some of that for European buyers.
en.lider.mediaIva Marđetko MatešJan 27, 2020After 44 past bullish macro events, Soybean Meal moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), 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.
