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Chicago soybean futures fell 3.7% in two days after rains in the Corn Belt and improved crop ratings. Canola prices slipped, and Ukrainian and Paris rapeseed also declined, while Canadian canola conditions in Saskatchewan were the worst on record.
Weather-driven selling in soybeans spills over into rapeseed and canola, pressuring oilseed meal prices. Poor Canadian canola conditions and a cut in Canadian output estimates limit the downside.
graintrade.com.uaAug 2, 2017After 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.
Not enough comparable past events yet for a historical read.
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.
