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For the week ending October 24, US grain inspections for export totaled 2.58 million metric tons, unchanged week on week and 19% below the 3-year average. Corn inspections fell 34% and wheat fell 10%, while soybean inspections rose 18%.
Panama Canal tonnage in fiscal 2019 rose 6.2% year on year.
Weak corn and wheat export inspections signal softer foreign demand for US supplies, which is bearish for those prices, while the soybean rebound offers some support.
doi.orgOct 31, 2019After 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.
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.
