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USDA weekly export sales for the week ending April 6 showed wheat at 421,600 tons, with China buying 112,900 tons. Corn sales were 738,000 tons, 35% below the previous week, and sorghum sales were 75,000 tons, with China buying 108,500 tons.
Strong Chinese sorghum buying supports sorghum prices, while weak corn sales point to softer corn demand in the near term.
brownfieldagnews.comJohn PerkinsApr 13, 2017Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
