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The USDA weekly Grain Transportation Report says total inspections of corn, wheat and soybeans for export reached 1.7 million metric tons in the week ending September 19. That was up 2% week on week but down 35% from a year earlier and 34% below the 3-year average.
Soybean inspections jumped 38%, while corn fell 45% and wheat fell 8%.
Weak corn and wheat export inspections point to softer export demand for U.S. feed grains, which is bearish for corn. The soybean rebound offers only modest support for soybean prices.
doi.orgSep 26, 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 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.
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.
