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Argentina's drought has led Gro Intelligence to forecast corn output 27% below USDA's current estimate. Australian barley prices are falling on a large crop, and Brazil's Parana corn harvest is progressing with improved crop conditions.
Canada expects its 2022 barley crop to recover from drought-hit 2021 levels.
Argentine drought losses tighten South American corn supply and support corn prices, while the large Australian barley crop and recovering Canadian output add competing feed grain supply.
grains.orgJan 27, 2022grains.orgJan 27, 2022Not enough comparable past events yet for a historical read.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
