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CBOT corn futures reached their highest level in over a year on strong export demand. Wheat firmed after USDA reported only 41% of U.S. winter wheat in good or excellent condition, below the 52% analysts expected.
Soybeans were near unchanged after hitting their highest since July 2016.
Export demand and a weaker-than-expected U.S. winter wheat crop rating tighten supplies for feed grains. Feed buyers should budget for higher corn and wheat costs.
marketscreener.comMarketScreenerOct 27, 2020After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
