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Soybeans rose on commercial and technical buying after dry forecasts for Argentina. The Rosario Grain Exchange cut its Argentine soybean estimate to 40 million tons from 46.5 million and its corn estimate to 32 million from 35 million.
NOPA reported February crush of 153.7 million bushels, above expectations.
Argentine crop cuts tighten South American export supply and support soybean and meal prices, while strong crush signals solid US processing demand.
brownfieldagnews.comMar 15, 2018After 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.
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 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 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.
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.
