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Corn, soybeans and wheat rose on February 28, 2017 on apparent fund buying on the last trading day of the month. Gains also followed reports that President Trump wanted to change how biofuels are blended into the fuel supply.
Fund buying and uncertain biofuel policy support prices, but the effect on ethanol and biodiesel demand was unclear at the time. Price direction depends on whether the policy change is finalized.
farmprogress.comFeb 28, 2017After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), 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.
