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U.S. soybean futures fell on Tuesday as USDA raised the soybean good-to-excellent rating two points to 55 percent, above estimates of 54 percent. Corn and wheat also moved slightly, and traders noted a lack of progress in US-China trade talks.
Better crop ratings raise expectations for a larger U.S. soybean harvest, which pressures prices. Continued trade stalemate with China keeps export demand uncertain.
grainews.caTom Polansek, GFM Network NewsAug 27, 2019After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 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 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.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
