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An industry outlook says prices for corn, wheat and soybeans are unlikely to recover soon because of African swine fever and the US-China trade war. Rabobank estimates the trade war cut soybean values by US$1-1.50 per bushel and ASF by another 50 cents, and it expects corn near $3.80 per bushel.
A prolonged low-price outlook for grains and soymeal keeps feed ingredient costs low for buyers over the coming years.
feedstrategy.comEmma PenrodNov 8, 2019After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
