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CBOT soybeans gained as smaller US soybean estimates, dry weather in Argentina and slow starts to Brazil's harvest weighed on supply. Global 2024-25 soybean production and ending stocks are still projected at record highs.
Speculative corn longs were near a three-year high.
Dry weather in Argentina and a smaller US crop tighten near-term soybean and soymeal supplies, supporting prices despite record global stocks.
reuters.comKaren BraunJan 21, 2025After 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.
