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Argentine farmers are storing a large share of their soybean harvest in silo bags rather than selling, with one 700-hectare producer reporting 60-70% stored. President Alberto Fernandez accused the farm sector of hoarding about $20bn of products amid an economic crisis and peso erosion.
Withheld Argentine soybeans and meal reduce near-term export availability and support world soybean product prices, while farmers' expectation of devaluation keeps selling slow.
aljazeera.comNatalie AlcobaAug 22, 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.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
