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Analysts comment on the February WASDE, saying new-crop corn trades much higher than old-crop stocks. One analyst doubts soybeans can rise above $10 a bushel.
A large new-crop to old-crop price spread signals tight nearby corn supplies, while the soybean view suggests limited upside for beans and meal.
iowaagribusinessradionetwork.comStaff EditorFeb 9, 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
