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Analysts described the December WASDE as uneventful, with China absent from the soybean market and few changes made to the balance sheets. Brian Grossman of Zaner Ag Hedging said future reports could change if China resumes purchases, and noted Brazil's record soybean crop.
With no new export demand from China and a large Brazilian crop, soybean prices are likely to hinge on trade news rather than USDA data. Market participants are watching for any China purchase announcements.
iowaagribusinessradionetwork.comDustin HoffmannDec 11, 2018After 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.
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.
