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Soybeans and corn rose modestly as soybean meal gained for a fifth session on commercial buying. Weekly US export sales beat expectations, though physical shipments remain slow, and South American dryness in Argentina added support.
Wheat fell modestly on profit taking and a firmer dollar.
Argentine dryness raises the risk of lower meal exports, which could shift demand toward US meal and support prices. Weather-driven uncertainty in South America is the main price driver for the soy complex.
brownfieldagnews.comJan 19, 2018After 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.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), 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.
