Forecast: agricultural exports down US$13 billion from 2022 due to drought

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.

• Jan 12, 2023Economy challenge 2023: farm exports may be reduced by up to US$14.1 billion due to the drought - Buenos Aires Herald+2.2%
• Oct 24, 2024Drought expands across key US agricultural regions | Feed & Grain-1.3%
• Dec 14, 2021Argentina bourse doubles down on drought risk for soy, corn | Buenos Aires Times-3.7%
• Mar 24, 2023Argentina exchange sees 2022/23 soy imports up 139% due to drought - DatamarNews+1.7%
• Jun 29, 2023US Midwest drought expands, but forecast rains offer relief to crops | Reuters-2.5%

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.

• Jan 12, 2023Economy challenge 2023: farm exports may be reduced by up to US$14.1 billion due to the drought - Buenos Aires Herald-0.0%
• Oct 24, 2024Drought expands across key US agricultural regions | Feed & Grain-2.1%
• Mar 16, 2020AgRural reduces soybean forecast for 19/20 crop due to drought in Rio Grande do Sul - DatamarNews+1.9%
• Jul 4, 2023Drought slashes 2022/2023 soybean production by 51.5% | Buenos Aires Times-2.7%
• Dec 14, 2021Argentina bourse doubles down on drought risk for soy, corn | Buenos Aires Times+3.9%