Growing Concerns About the South American Crop

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.

• Oct 4, 2019A Slow Start for Planting in South America | Red River Farm Network+1.3%
• Jul 31, 2022It’s a Late Crop | Red River Farm Network-1.4%
• Aug 29, 2018Dry Conditions on Day Two of RRFN Crop Tour | Red River Farm Network+0.6%
• Jun 19, 2020Grain Traders Monitoring Rainfall Across Corn Belt | Red River Farm Network-0.4%
• May 9, 2024El Nino and La Nina | Red River Farm Network+0.1%

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.

• Feb 22, 2021Dry weather concerns extend from South America into North America-0.6%
• Mar 13, 2022Argentina Tries to Hold Onto Soybean Supplies | Red River Farm Network-1.7%
• Mar 16, 2021Weather woes persist for South American row crops - Grain Central-2.4%
• Jan 21, 2023Meal Market Takes Priority | Red River Farm Network+1.2%
• Dec 22, 2020Corn ends higher amid supply concerns in South America+3.6%