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CBOT March corn rose 0.6% to $4.43 a bushel on Tuesday, with concerns about dry weather in Argentina and Brazil. More than 100 cargo ships in Argentina were blocked from loading agricultural goods due to a dockworker wage strike.
Dry weather in South America and port strike disruptions in Argentina tighten export supply, supporting corn and soybean meal prices.
economies.comRami HaddadDec 22, 2020After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
