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The Buenos Aires Grain Exchange says a strong La Niña is developing and will bring a prolonged dry spell to the Argentine Pampas from January into early March. Crop health depends on February rains, and a significant harvest reduction is possible.
A prolonged dry period could cut Argentine soybean and corn output, reducing supplies of meal and corn to export markets. This supports feed ingredient prices.
batimes.com.arJames GraingerDec 14, 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.
