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USDA's weekly Grain Transportation Report shows total grain inspections for export reached 2.84 million mt for the week ending February 21, up 19% week on week. Wheat inspections rebounded 91% and soybean inspections rose 27%, while corn inspections fell 20%.
Stronger export inspections signal firmer near-term demand for wheat and soybeans, while the drop in corn shipments points to softer corn demand for the period.
doi.orgKen Eriksen, Kuo-Liang, Peter Caffarelli, PeteraFeb 28, 2019After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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 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.
Not enough comparable past events yet for a historical read.
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.
