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Soybeans closed higher in the last full week of August on commercial and technical buying. Dry weather could persist into September and a crop tour points to lower yields, while China bought 120,000 tons of new-crop US beans.
Dry weather that could cut yields and firm Chinese demand both tighten supply, supporting soybean prices and the crush margins that lift soybean oil.
brownfieldagnews.comAug 25, 2023After 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 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
