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USDA export inspections for the week ending October 31 showed soybeans at 1.48 million tons, above projected needs, with China and the Netherlands as main destinations. Sorghum inspections totaled 67,000 tons, with Kenya and Mexico the largest buyers.
Wheat and corn inspections were lower week over week.
Strong soybean and sorghum export pace supports US prices, while lower corn and wheat shipments weigh on those markets. Cumulative sorghum inspections well above last year's pace indicate firm export demand.
brownfieldagnews.comNov 4, 2019After 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.
Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
