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Corn and soybean futures fell sharply after the USDA March WASDE report on March 9, with December corn closing at $3.87 and November soybeans at $10.00, both the lowest since late January. Large South American crops are expected to create tough export competition in coming months.
Big South American supplies and weaker U.S. export prospects pressure soybean and corn prices, which lowers feed ingredient costs in the near term.
narrowrow.comTodd E. GleasonMar 13, 2017After 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 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 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% 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.
