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Corn gained 9.5% last week after large sales to China and strong USDA export data, while soybeans rose more modestly. Overnight, corn was up 7 to 8 cents and soybeans up 5 to 6 cents, with wheat steady to lower.
Strong export sales to China support corn and soybean prices, which raises feed ingredient costs for buyers, though fundamentals are not expected to shift dramatically.
nwgrgr.comFeb 1, 2021After 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 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.
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.
Corn gained 9.5% last week on large Chinese purchases and strong USDA export data, which directly describes the demand-driven move in the window.
