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Soybeans fell sharply on commercial and technical selling, along with broader market weakness and US-China trade tensions. About 73% of US soybeans were rated good to excellent, and corn was lower with 77% rated good to excellent.
Unknown destinations bought 186,000 tons of old-crop US soybeans.
Trade tensions with China and favorable US crop ratings pressure soybean and corn prices, with meal and oil following lower. Feed buyers face softer US protein and corn prices in the near term.
brownfieldagnews.comJun 25, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.
