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Soybeans closed higher on spread trading and strong meal, with meal supported by tight supplies and good crush margins. China bought 132,000 tonnes of US soybeans and India bought 33,000 tonnes of soybean oil.
Argentina will control corn export volumes to limit domestic inflation, and dryness is affecting parts of southern Brazil.
Chinese buying and tight meal supplies support soybean and meal prices, while Argentine export controls and Brazilian dryness tighten corn and soy export availability.
brownfieldagnews.comDec 17, 2021After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
