Loading…
USDA's WASDE pegged Brazil's soybean crop at a record 108 million tons, up 4 million, and raised Argentina's corn estimate by 1 million tons to 37.5 million. U.S. soybean ending stocks rose by 15 million bushels to 435 million, while world ending stocks for corn were raised about 3 million tons.
Larger South American supplies and higher world stocks point to ample global supply, which is moderately bearish for soybeans and corn prices.
dtnpf.comMar 9, 2017After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
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 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
