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U.S. grain export inspections for the week ending November 14 totaled 2.71 million metric tons, up 6% from the prior week but down 20% from the three-year average. Corn and soybean inspections rose while wheat fell.
Mississippi River lock volumes were the second-highest of 2019, and EIA expects lower crude prices in 2020.
Export inspections are running below average, which is mildly bearish for U.S. corn and soybean prices. Lower forecast crude and diesel costs would ease fuel surcharges for grain transport.
doi.orgNov 21, 2019After 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.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), 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.
