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Soybean futures firmed on trade hopes and a better-than-expected USDA export sales report of 1.992 million tonnes, including 1.7 million tonnes to China. Corn also rose on planting-delay concerns from Midwest rain, while MGEX spring wheat fell.
Expectations of a US-China deal and strong export sales support soybean prices, while wet Midwest weather supports corn.
grainews.caGFM Network NewsApr 4, 2019After 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.
After 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 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
