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DTN forecasts well-below-normal rainfall for southern South America through late December, with less than 30 mm expected across Argentina's main growing areas and Rio Grande do Sul. Argentina's soybean and corn planting is behind normal, with soybeans 50% planted as of December 15.
Dry weather and delayed planting in Argentina and southern Brazil raise the risk of smaller soybean and corn exports, supporting soybean meal, oil and corn prices.
dtnpf.comJohn BaranickDec 15, 2022After 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 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.
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.
