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Chicago corn rose to its highest in almost a week as dry weather in Argentina cut export supplies, with Argentine corn exports seen falling about 40% from March to June. Soybeans gained 0.8% while wheat slipped, and Ukraine's grain exports were down 28.7% so far in the 2022/23 season.
Argentine drought losses tighten global corn and soybean export availability, supporting prices for feed grains and meal.
brecorder.comReutersFeb 21, 2023After 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 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 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
