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US corn futures rose to a 3.5-week high after the USDA announced sales of 300,000 tonnes to China, the largest Chinese purchase in over five years. Flooding across Iowa and Nebraska also raised concerns about spring planting.
Confirmed Chinese demand adds export support while flood-related planting risk tightens the outlook for US supplies, both bullish for corn. A firmer dollar and Brazil's bumper soybean harvest weighed on soybeans.
grainews.caGFM Network NewsMar 22, 2019After 729 past bullish trade events, CORN moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
