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Weekly USDA export sales showed 546,100 MT of 2019/20 corn net sales and 494,800 MT of exports, with year-to-date corn bookings down 45 percent. Sorghum sales rose and corn harvest was nearly finished, with about 11 percent still in fields concentrated in the Dakotas.
Sharply lower corn bookings versus last year point to weak export demand, keeping pressure on U.S. corn prices while South American and Ukrainian supplies compete.
grains.orgDec 5, 2019grains.orgDec 5, 2019grains.orgDec 5, 2019Not enough comparable past events yet for a historical read.
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.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
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.
