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USDA's weekly export report showed soybean sales up slightly and largely in line with forecasts, with China as the top buyer. Corn sales fell to a market-year low of 5.5 million bushels, and wheat sales were 13.8 million bushels.
Futures showed little reaction in the overnight session.
Weak corn export sales and steady soybean demand give the market little new direction. Routine export data of this kind has limited price impact.
feedstuffs.comBob Burgdorfer 1Jul 7, 2017After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
