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Grain and oilseed futures fell after the May USDA report, as speculators took profits. The report's 2021/22 US and world stock estimates and South American crop numbers were in line with or above expectations.
A bridge collapse on the Mississippi River halted barge traffic on a key US Gulf export route.
The Mississippi closure delays US Gulf grain and oilseed exports and adds freight pressure, while higher USDA stock estimates weigh on prices. Together these point to softer US feed grain and oilseed meal prices in the near term.
ahdb.org.ukMay 14, 2021After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
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.
