Loading…
Rain in the week ending November 19, 2022 fell mainly outside Argentina's major production regions, leaving drought conditions largely intact. In Brazil's full-season corn areas, the period was the second driest second week of November in more than 30 years.
Argentina's economy ministry revised its 2022/23 wheat production estimate down again in mid-November.
La Niña-driven drought in the main South American corn and soybean regions points to tighter export supplies and higher prices. The downward wheat revision adds support to global wheat prices.
agriculture.comKrissy KlingerNov 21, 2022After 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 1,079 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 1,072 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.
