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US soybeans rose on commercial and technical buying, including a sale of 132,000 tons of old-crop beans to unknown destinations. Planting was 32% complete, matching the five-year average.
Corn planting was 71% done, and Brazil's move to restrict US ethanol imports was noted.
Fresh export demand supports soybean and meal prices, while planting progress caps upside. Brazil's ethanol restrictions could affect corn and DDGS trade flows.
brownfieldagnews.comJohn PerkinsMay 16, 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 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
