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Soybeans and corn fell after Brazil's CONAB cut its domestic soybean outlook by less than many expected, while raising its corn estimate to a combined 91.2 million tons. The USDA's next report was delayed by the partial government shutdown.
Trade talks between the U.S. and China also lacked public progress.
A larger Brazilian corn crop and higher export competition weigh on U.S. corn and feed prices. The delayed USDA report adds uncertainty for buyers, while Brazil's soy crop remains a key supply watch.
brownfieldagnews.comJan 10, 2019After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
