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U.S. grain prices rose this week after the October Crop Production and WASDE reports, which cut projected soybean exports and raised ending stocks as expected. Corn gained 4.39%, KC and Chicago wheat rallied to contract highs, and soymeal rose 8.83% on the week.
Soymeal's sharp weekly gain raises feed protein costs for buyers, while slow export demand limits basis gains. Wheat strength adds to feed grain costs.
linkedin.comNov 13, 2021After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 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 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
