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Argentina is the top exporter of soybean products and a key corn supplier, but soybean and corn yields have been below average for at least four years, largely due to repeated La Niña events. La Niña conditions threaten another poor harvest.
Repeated yield shortfalls in Argentina reduce export availability of soybean meal, oil and corn, which supports global prices for these commodities.
reuters.comKaren BraunDec 4, 2024After 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.
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.
