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ING's Commodities Feed says the August WASDE surprised grain markets with bearish figures. The same note covers US shale output and drilling estimates, weekly crude inventory expectations, and flood-related aluminium supply issues at Chinese smelters.
A larger-than-expected US corn supply outlook weighs on corn and feed grain prices, while the energy and metals items are background for broader commodity sentiment.
think.ing.comWarren PattersonAug 13, 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.
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.
