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Soybeans and corn fell on commercial and technical selling, with soybean meal and oil also lower. Attention is on South American production, where CONAB put Brazil's soybean crop above 100 million tonnes and Argentina's output is expected to top 52 million tonnes, while the USDA recently raised US production and stock estimates.
Large South American supply expectations and higher US stocks weigh on soybean complex and corn prices, pressuring feed ingredient values.
brownfieldagnews.comJohn PerkinsNov 11, 2016After 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.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
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.
