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Private forecasts showed drier-than-normal weather for central and eastern Argentina over the next two weeks, with rising temperatures. Soymeal rallied sharply after a technical reversal and short covering, aided by a fire at Bunge's Cairo, Illinois crush plant that was expected to restart.
Corn rose to new six-month highs on Argentine dryness and northern Mexico drought.
Argentine and Mexican dryness threatens supply of soybeans and corn, while the Bunge plant outage tightened US meal supply, pushing prices higher.
admis.comADMIS Research TeamDec 30, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
