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The AMIS market monitor reported that international wheat, maize and soybean prices firmed in October 2019. Wheat rose on production downgrades in Australia, Kazakhstan, the US and Argentina.
Maize rallied sharply after USDA cut US beginning stocks and raised its farm price forecast.
Lower crop estimates in major exporters tighten global supplies and support feed grain and protein prices, especially for buyers reliant on imported wheat and corn.
graincentral.comNov 8, 2019After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
