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Soybeans fell on commercial and technical selling as traders watched early Brazilian harvest delays and hot, dry forecasts for parts of Argentina. Ethanol futures fell after China's customs data showed sharp drops in DDGS imports, and wheat was mixed.
Lower Chinese DDGS imports reduce demand for US co-products, which weighs on the feed ingredient market.
brownfieldagnews.comJohn PerkinsJan 23, 2017After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
