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FAPRI's five-year baseline update, released August 28, projects lower wheat, corn and soybean prices for 2019-20 and 2020-21. It assumes China's 25% retaliatory tariff on U.S. soybeans stays in place and that the 2019 crop shortfall reverses in 2020.
Corn output is forecast to rise 8% and soybean output 13% in 2020.
Projected supply recovery in 2020 and weaker Chinese soybean demand from African swine fever point to lower feed grain and soymeal prices over the outlook period.
foodbusinessnews.netRon SterkSep 5, 2019After 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 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
