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December corn fell to a 3.5-month low and SRW wheat hit a 14-month low, with March SRW down 22 cents. January soymeal surged $8 to its highest close since September 20 on strong export demand, and USDA reported a 130,000 MT soybean sale to China.
Soybean meal strength and Chinese purchases support soybean complex prices, while corn and wheat remain pressured by weak exports and Black Sea competition.
profarmer.comPro Farmer EditorsDec 5, 2022After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
SRW wheat hit a 14-month low with March down 22 cents on Dec 5, confirming the sharp end-of-window selling.
Same-day report of SRW hitting a 14-month low with March SRW down 22 cents confirms the sharp selloff on Dec 5.
