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The USDA's May WASDE projects 2017/18 global grain exports rising 10 million tonnes to a record 615 million tonnes. Wheat, coarse grain, oilseed and protein meal exports are also forecast at or near record levels, with the largest growth from South America's east coast.
Record projected trade volumes imply strong shipping demand for grain, supportive for ocean freight, while ample export availability from South America tempers upside in grain and meal prices.
splash247.comSam ChambersMay 22, 2017Not enough comparable past events yet for a historical read.
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 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 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
