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Corn, wheat and soybean futures rose after President Trump said a China deal was 'very close' and US negotiators offered to suspend tariffs due Dec. 15.
USDA confirmed a 1.6 million tonne private corn sale to Mexico, the fifth-largest daily corn sale on record. Export commitments outside Mexico were at record lows.
A large Mexican corn purchase and hopes for China tariff relief support demand and prices. Record-low commitments elsewhere show competitive gaps with South American supply.
financialpost.comReutersDec 12, 2019
foxbusiness.comKen MartinDec 13, 2019After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 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 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.
