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Corn futures rose nearly 2% after USDA's June WASDE lowered US corn beginning and ending stocks, with exports and ethanol use strong. Soybean futures gained about 0.5% on lower soybean stocks and high disappearance.
Wheat also rallied on weather concerns abroad.
Stronger corn and soybean demand than expected tightens feed grain supplies and supports prices for buyers. Feed buyers should expect firmer offers while the market tests whether the rebound holds.
feedstuffs.comBen PotterJun 12, 2018After 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
