Loading…
Corn and soybean harvests were moving ahead of the average pace, with quarterly stocks numbers and trade developments dominating the market. China reportedly postponed trade talks with the US until after the midterm elections, and Japan opened talks with the US.
China delaying trade talks prolongs uncertainty over US soybean export demand, which is bearish for soybeans and soymeal. Japanese talks offer a modest offset.
leadertelegram.comAngie SetzerOct 8, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
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.
