Loading…
Brownfield reports soybeans finished higher on October 12, 2018, on short covering and technical buying, with the USDA cutting its production outlook slightly. Weekly export sales were bearish due to China's tariffs, though some non-Chinese buyers have stepped in.
Corn rose on short covering and a bullish weekly export pattern, and USMCA ratification was being watched.
Tariff-driven export weakness and a slightly lower USDA production estimate create mixed signals for soybeans, while steady corn export demand supports corn prices. Price direction is modestly bullish for both.
brownfieldagnews.comOct 12, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Soybeans finished higher on Oct 12 on short covering and technical buying, which is the final trading session before the window ends and likely spilled into soyoil.
Follow-through buying and short covering across wheat, corn and soybeans on Oct 12 contributed to the rally within the window via sentiment and technical short covering.
Wheat, corn and soybeans rose on Oct 12 on short covering and technical buying, contributing to the weekly gain.
