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USDA data showed record soybean stocks in storage on June 1, up 47% on the year at 1.790 billion bushels. Corn stocks were 5.202 billion bushels and all-wheat stocks were 1.072 billion bushels.
Record soybean inventories signal weak near-term demand relative to supply, weighing on soybean and soybean meal prices.
brownfieldagnews.comJun 28, 2019After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 399 past bearish report events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
