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Soybean prices rose on political uncertainty in Brazil and weather problems in Argentina, where heavy rains slowed harvest and crusher deliveries. Estimates suggest Argentine soybean output could fall 2-3 million tonnes, and some crushers have cut run rates, reducing expected meal exports by 250,000 to 500,000 tonnes.
Reduced Argentine crush and meal exports tighten global soymeal supply, supporting soybean meal and soybean prices while buyers wait for drier conditions.
farmprogress.comKevin Van TrumpApr 19, 2016After 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.
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.
