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USDA weekly data showed total grain export inspections (corn, wheat, soybeans) fell 22% week over week. Year-to-date through January 24, soybean exports were down 24% and wheat down 3%, while corn rose 12%.
Industry groups cited storage of unsold soybeans and weaker Chinese demand.
Weak US soybean export flows keep domestic supplies heavy and pressure cash soybean and meal values, while the corn export gain offers modest support.
freightwaves.comFreightWaves StaffFeb 4, 2019After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
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.
