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Corn, soybeans and winter wheat fell on March 10, 2017 as traders priced in bearish numbers from Thursday's USDA report. New-crop November soybeans traded below $10.
Spring wheat was the exception, rebounding after a week-long slide to a two-month low.
The bearish USDA numbers add pressure to corn and soybean prices, which lowers feed ingredient costs. Spring wheat's rebound suggests firmer demand in that segment.
farmprogress.comMar 10, 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 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 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
