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Soybeans rose to a high for the week on improved export demand, with USDA reporting net soybean sales of 2.336 MMT in the week ended Oct. 13.
Corn gained on a weaker dollar and Ukraine Black Sea shipping concerns, while low Mississippi River water levels slowed grain shipments.
Stronger export sales support soybean and corn prices, while low river levels raise barge freight costs and constrain shipments to export markets.
profarmer.comPro Farmer EditorsOct 20, 2022After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
