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Early Thursday trade showed July corn up 10.25 cents and July soybeans up 18 cents, with CBOT wheat up 6.75 cents. USDA reported a 152,000 MT corn sale to unknown destinations.
Weekly net corn export sales of 46.5 million bushels were near the high end of expectations, while soybean sales of 9.7 million bushels were near the low end.
Solid corn sales support prices, while weak soybean sales add bearish pressure on soybeans despite the morning rally.
ukragroconsult.comJun 7, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 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.
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.
