Loading…
Kentucky Farm Bureau's May 13, 2020 close shows mostly lower CBOT grain and soybean futures after traders reassessed the May WASDE. The USDA cut 2019/20 soybean exports by 100 million bushels and raised carryout by the same amount.
Cattle futures closed sharply lower, and wheat supplies are projected to be burdensome.
USDA's larger-than-expected soybean carryout and large corn and wheat supplies point to weaker grain and meal prices. Lower cattle futures also reduce the value of livestock feed demand.
kyfb.comMay 13, 2020After 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 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 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% 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.
Cattle futures closed sharply lower on May 13, which adds volatility within the 5-day window.
