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Soybeans and corn closed modestly higher on short covering as US-China trade talks continued through Thursday, with new US tariffs on Chinese goods due in about a month. Traders also noted African Swine Fever risks to Chinese demand, a Huawei IP dispute, and hot, dry weather in Brazil's second corn crop.
Trade talk progress and Brazilian dryness support soybean and corn prices, while ASF and a narrowing US export window cap demand.
brownfieldagnews.comJan 30, 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 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 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), 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.
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.
