Loading…
USDA weekly export sales were down for the week, with corn sales of 30 million bu. falling 55% from the prior week. Soybean sales of 51.4 million bu. were led by China, and wheat sales of 17.8 million bu. topped forecasts.
A sharp drop in corn sales weakens near-term export demand, though soybean and wheat demand stayed firm, leaving corn most exposed to bearish pressure.
feedstuffs.comBob Burgdorfer 1Dec 1, 2016After 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 747 past bullish report events, SOY 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 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.
