Loading…
Excellent Midwest harvest weather for the next two weeks added to bearish soybean sentiment. November soybeans closed higher after an early dip to the lowest level since June 18 held as support.
Higher energy prices helped soybean oil bounce.
Favorable harvest weather speeds US soybean harvest and farmer selling, which typically pressures soybean prices. Rising Brazilian planting prospects add to the bearish tone.
ukragroconsult.comSep 23, 2021After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
