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USDA raised its fiscal 2018 U.S. agricultural export forecast by $1 billion to $140 billion, citing robust sales to East Asia and North American partners. Secretary Perdue said China is shaping up as the top market, led by soybean sales.
Stronger projected export demand, led by China soybean purchases, supports U.S. soybean and corn prices, though the forecast is still slightly below fiscal 2017.
brownfieldagnews.comDec 1, 2017After 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 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.
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.
