Loading…
USDA's June 9 WASDE report left US corn and soybean balance sheets largely unchanged. Analysts shifted focus to wheat quality concerns in winter and spring crops.
Export competition from South America is also in view.
Lower wheat quality could leave more feed-grade wheat in supply, which limits milling demand. Possible tighter milling wheat supply could support prices later in the season.
agnavigator.comAerin Einstein-CurtisJun 9, 2017After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
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.
