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Bloomberg reports that La Niña is set to bring little rain to Argentina's Pampas growing region in January and February. The Buenos Aires Grain Exchange climatologist expects March to be wetter but with pockets of drought remaining.
Dry weather during pod-setting and grain fill threatens Argentine soybean and corn yields, tightening export supplies of soymeal, soyoil and corn. That supports prices for feed ingredients.
agribusinessglobal.comMatt HopkinsDec 3, 2021After 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 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.
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.
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.
