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USDA export sales data showed China bought about 31,400 tons of U.S. pork and 71,000 tons of soybeans in the latest week. Overall old and new crop corn, soybean, wheat and product sales for the week ending May 16 were within analyst estimates, with old crop wheat sales at a marketing-year low.
Chinese purchases of U.S. soybeans and pork are a modest positive for demand during a stalled trade dispute, though weak wheat and corn sales limit upside for those grains.
brownfieldagnews.comMay 23, 2019After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% 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 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.
