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USDA export sales for the week ending September 28 beat most estimates for corn, with soybeans and wheat within expectations. China bought 608,900 tons of soybeans and Mexico took 190,600 tons of corn, and the 2017/18 marketing year sales pace was reported for each crop.
Solid corn and soybean export demand, especially from China and Mexico, supports US prices by drawing on old-crop stocks ahead of the large new-crop harvest.
brownfieldagnews.comJohn PerkinsOct 5, 2017After 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.
After 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.
Not enough comparable past events yet for a historical read.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), 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.
