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US weekly export sales for old-crop soybeans and wheat rose and beat trade forecasts, while old-crop corn sales fell 47% from the prior week. China bought about 6.1 million bushels of 2017-18 soybeans in a daily report.
Strong soybean and wheat export demand supports US prices, while softer corn sales offer little support, and futures reacted only modestly.
feedstuffs.comBob Burgdorfer 1Mar 30, 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 431 past bullish trade events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
