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Soybeans rose on commercial and technical buying after Mexico bought 190,000 tons of 2017/18 US beans. Corn was modestly higher, and Argentina's corn crop harvest is essentially complete at an estimate of 39 million tons.
Continued Mexican purchases support US soybean export demand, while Argentina's large corn crop adds competing feed grain supply.
brownfieldagnews.comJohn PerkinsSep 22, 2017After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 480 past neutral trade 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.
