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USDA weekly export sales for the week ending September 12 beat expectations for corn and soybeans. Corn sales totaled 60.2 million bushels, with heavy buying from Mexico, and Japan and China also purchased.
Wheat sales slowed by more than 50% from the prior week.
Stronger corn and soybean export demand supports prices, although commitments remain at multi-year lows for the season. The slowdown in wheat sales is a bearish signal for that market.
farmprogress.comBen PotterSep 19, 2019After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 1,006 past bearish report events, WHEAT 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.
