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Soybeans were modestly lower on fund and technical selling in a bearish week, with trade talks with China uncertain as the US prepared new tariffs. Corn posted weekly losses despite short covering, and Hurricane Florence was expected to disrupt harvest in the southeastern Corn Belt.
The Rosario exchange estimated Argentina's 2018/19 soybean crop at 50 million tonnes, and wheat was higher on short covering.
New US tariff threats on China and a large Argentine soybean crop weigh on soybean meal prices, while Florence-related harvest delays add modest weather risk to corn. Feed buyers should expect soymeal to stay soft in the near term.
brownfieldagnews.comSep 14, 2018After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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 431 past bullish trade events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), 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.
