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CBOT March corn, soybeans and wheat all closed lower on February 1 on chart-based selling. Buenos Aires Grains Exchange raised its Argentine corn crop estimate to 45 million tonnes, while keeping soybeans at 53 million.
A larger Argentine corn crop adds export competition and pressures US corn prices, though the soybean estimate was unchanged.
grainews.caJulie Ingwersen, GFM Network NewsFeb 1, 2019After 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 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
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.
