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Heavy rain and flooding in northern Argentina damaged some of the season's soybean and corn crops. Brazil announced new farm subsidies for 2016/17 and 2017/18, and China is reportedly raising its ethanol import tariff from 5% to 30%.
Crop losses in Argentina, the top soymeal exporter, tighten global meal supply and support feed prices. China's tariff move could also shift corn demand.
brownfieldagnews.comJohn PerkinsJan 17, 2017After 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 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.
