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USDA's weekly export sales report for the week ending September 7 showed soybean old-crop sales of 59.3 million bushels, above trade and USDA estimates, with China as the main destination. Corn sales fell to 41.2 million bushels from the prior week but still beat expectations, and shipments went mainly to Mexico.
Strong soybean export demand supports prices despite a large U.S. crop. Corn demand was solid but slowing, so it did not give the same price support.
feedstuffs.comSep 14, 2017After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
