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Soybeans and corn eased on commercial and technical selling ahead of USDA reports, with the trade expecting large production and ending stocks. Low Mississippi River levels pushed barge costs to new highs and cut soybean cash premiums at river terminals to six-year lows.
Expectations of big crops point to ample supply and bearish pressure, while high river freight depresses farm-gate bids in the interior.
brownfieldagnews.comJohn PerkinsOct 3, 2017After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
After 34 past bearish logistics events, Soybean Meal moved a median +0.4% over 5 sessions (53% higher; middle half -1.8% to +2.6%), and -1.2% 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.
