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Soybean futures settled above $15 a bushel for the first time since June as drought in southern Brazil cut production estimates. Private estimates for South American output fell toward 120 million metric tons, versus 138 million last year.
A sharp drop in Brazilian supply tightens global soybean balances and lifts meal and oil values for feed buyers.
marketwatch.comMyra P. SaefongFeb 1, 2022After 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 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% 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.
