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River soybean bids firmed in the week to July 24 on high water, a slowdown in Brazilian farmer sales and expected Chinese buying of new-crop soybeans. Corn bids in river markets eased, and Gulf soybean basis rose while farmer selling stayed slow.
Expected Chinese demand and a shift of export business from Brazil support soybean prices, while softer corn bids point to weaker corn demand at the river. Shipping delays from high water add to the bullish soybean tone.
farmprogress.comBob Burgdorfer Senior Editor, Farm FuturesJul 24, 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 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
