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CBOT corn, wheat and soybean futures fell on Tuesday after USDA rated 76% of corn and 71% of soybeans good to excellent, among the highest mid-July ratings in 20 years. Moderating temperatures were also forecast for the following week.
High crop ratings and a bearish sentiment shift point to ample feed grain supply, pressuring corn, wheat and soybean prices.
en.xfafinance.comJul 20, 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 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
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.
