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US soybean futures firmed on supportive export demand, including a private sale of 384,000 tonnes of US soybeans to China. Wheat and corn rose on technical buying and bullish weekly export sales, and December soyoil gained 1.3% after Trump reaffirmed his commitment to renewable fuels.
Chinese purchases and firmer soyoil support soybean and meal values, while biofuel mandate signals underpin soyoil demand that is linked to crush margins and meal supply.
agcanada.comAGCanadaOct 19, 2017After 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 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
