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India's monsoon rains were below average for a second straight week, with the week to Aug. 11 at 35% below the 50-year average and shortfalls as high as 98% in cotton and soybean areas.
Sowing of rain-fed crops has been delayed by a dry spell.
Dry conditions in key soybean and cotton areas threaten Indian oilseed output, which could increase edible oil imports and support vegetable oil prices.
tribune.com.pkReutersAug 12, 2021After 1,079 past bullish weather events, SOY 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, SBO moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 181 past bullish weather events, PALMOIL moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
