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Argentine farmers sold 72.2% of the 2021/22 soybean crop by early November, slightly behind the 74.2% pace of a year earlier. Weekly sales fell by nearly half from the prior season, after a September surge driven by a government preferential exchange rate.
Planting of the 2022/23 soy crop was delayed by drought.
Slower farmer selling tightens near-term export availability of soybeans and soy meal, which is mildly supportive for prices. The drought-delayed planting adds some upside risk to later supply.
ukragroconsult.comNov 17, 2022After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
