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Soybeans and corn recovered some of Monday's losses on short covering and technical buying. AgRural reported 3.4% of Brazil's crop planted versus 11% a year earlier, and Argentina's oilseed workers planned an open-ended strike at the Rosario port that could affect some crushing plants.
China's September soybean imports reached 9.8 million tonnes.
South American planting delays and possible Rosario disruptions keep US exports in demand and support meal prices. Argentine crush capacity is at risk if the strike spreads.
brownfieldagnews.comOct 13, 2020After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
After 167 past bullish logistics events, Soybean Meal moved a median +0.5% over 5 sessions (54% higher; middle half -1.8% to +2.9%), and -1.2% over 20.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% 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.
