Loading…
USDA reported that feed grade corn demand and activity moderated, with corn trading 9 cents lower FOB, mostly on forward contracts. Feed grade soybeans traded 19 cents higher and soybean meal traded $0.49 higher on light demand.
The weekly crop progress report showed corn 17 percent planted as of April 24.
Lower FOB corn and slightly firmer soybean and meal values reflect mixed organic feed demand and early planting progress. Price effects are modest given light trade activity.
agcanada.comOrganicBizApr 27, 2017After 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
