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FAPRI-MU director Pat Westhoff says soybean prices are stronger than the institute projected in August. Relative cash prices still favor soybean planting over corn, though the 2018 futures ratio has eased to about 2.5 to 1.
Farmers have many months before finalizing planting decisions.
A favorable soybean-to-corn price ratio encourages more soybean acreage for 2018, which weighs on future corn supply expectations and supports soybean balances.
brownfieldagnews.comOct 13, 2017After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% over 20.
After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), 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.
