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Chicago soybean futures were on track for their biggest weekly gain since August, supported by dry weather in Brazil and strong Chinese demand. Corn and wheat also posted weekly gains, and Argentina's planting got a boost from recent rains.
Dryness in Brazil threatens South American soybean and corn supplies during export season, which tends to lift global feed grain and soymeal prices.
esmmagazine.comSteve Wynne-JonesNov 6, 2020After 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 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 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
