
Chicago soybean futures fell on December 1 as forecast rain for drought-stricken northern Brazil was expected to help crops facing low yields and damage. The most active contract settled 17-3/4 cents lower at $13.25 per bushel, while corn and wheat ended higher on short covering.
Improving Brazilian rainfall eases fears of a smaller supply from the top exporter, which removes some support for soybean and meal prices.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% 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.