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Rain on the Canadian Prairies brought temperatures to normal and stressed canola, with little precipitation forecast for Saskatchewan. November canola futures in Winnipeg rose 16% over the month, and US soybean futures gained on dry forecasts.
Dry Prairie weather threatens canola output, lifting canola meal prices and supporting feed costs, though the rally is partly speculative.
ukragroconsult.comJul 19, 2023Not enough comparable past events yet for a historical read.
After 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.
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.
