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Soybeans and corn fell on profit taking and technical selling, though China and unknown buyers booked 132,000 tons of new-crop U.S. soybeans each. NOPA reported August soybean crush of 165.055 million bushels, below expectations and a multi-month low.
Weak crush and a slipping U.S. crop rating point to softer meal and oil demand, while steady Chinese buying supports beans.
brownfieldagnews.comSep 15, 2020After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 399 past bearish report events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.2%), and -1.0% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
