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Corn futures rose about 2% and soybean futures about 4% on Tuesday. The rally followed an Argentine dispute over a corn export ban, falling soybean crush margins, higher crude oil and a weaker US dollar.
Argentina's export restrictions and tighter soybean supply support corn and soybean prices, raising feed ingredient costs for buyers.
fastmarkets.comJohnny HuangJan 5, 2021After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), 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.
Corn futures rose about 2% on Jan 5 on the Argentine corn export ban dispute, low supplies and a weaker dollar, which directly drove the window's move.
