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Canola and soybean futures fell after USDA left its U.S. soybean yield unchanged, against trader expectations of a cut. ICE canola's front-month contract dropped C$5.30 on the day, and a slight carry-out revision also weighed on U.S. markets.
Traders had positioned for a lower yield, so the unchanged figure triggered selling across the oilseed complex, with canola meal and soy products also under pressure.
manitobacooperator.caDave SimsNov 16, 2017After 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.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
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.
