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Soybeans and corn were higher on commercial and technical buying on May 2, 2024. Rain forecasts for the Midwest could delay planting, and flooding in southern Brazil and Argentina raised crop quality concerns.
USDA attaché data put Argentina's 2023/24 soybean crop at 49.5 million tons.
Planting delays in the US and harvest disruptions in South America support near-term soybean and corn prices. The size of Argentina's crop and its meal and oil exports will shape soybean product supply.
brownfieldagnews.comMay 2, 2024Not enough comparable past events yet for a historical read.
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.
