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USDA weekly export sales for the week ending December 1 showed corn sales of 58.9 million bu., soybeans of 53.7 million bu. and wheat of 18.5 million bu., all above trade expectations. China led soybean buyers and Peru led corn buyers.
Strong export sales above trade forecasts signal firm US demand and tighter old-crop balances, which are supportive for corn, soybean and wheat prices.
feedstuffs.comBob Burgdorfer 1Dec 8, 2016After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
