Loading…
CBOT soybean futures reached their highest level since 2016 and corn hit a 14.5-month high. Strong export sales were led by China, which bought 1.222 million tonnes of soybeans in the week.
Weekly corn export sales totaled 1.832 million tonnes, with China accounting for 433,500 tonnes.
Chinese buying of U.S. soybeans and corn tightens export supplies and supports prices for soybean meal and feed grains. Feed buyers should expect firm input costs.
in.marketscreener.comMarketScreener IndiaOct 22, 2020After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 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.
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.
Strong weekly export sales to China, including 1.832 million tonnes of corn, boosted demand expectations and pushed corn to a 14.5-month high ahead of the move.
