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Soybeans and soybean meal rose on continued dry weather across most of Argentina during key crop development phases. Brazil is expected to be dry near term, helping its harvest, and is still seen with a very large crop.
Soybean oil fell on commercial spread adjustments.
Argentina's yield losses tighten world soymeal supply, and Brazil and the US are expected to compete to fill the gap, which supports meal prices. Soybean oil's weakness reflects a different balance and does not offset the supply concern.
brownfieldagnews.comFeb 13, 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 49 past bearish weather events, Soybean Oil moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), and -0.3% 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.
