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Soybeans rose sharply on commercial and technical buying, with soymeal spillover on strong cash basis levels. China was the largest buyer in weekly soybean export sales, while some reports showed Beijing buying Brazilian beans.
Corn also rose, supported by Chinese purchases from non-U.S. sources.
Tight Argentine meal supplies and strong basis support meal prices for feed buyers. Weaker Chinese demand for U.S. beans and corn limits upside.
brownfieldagnews.comNov 12, 2021
1230kfjb.comAshley AndersonNov 13, 2021After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 696 past bullish trade events, Soybeans 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, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% 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.
