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An analyst at hEDGEpoint Global Markets outlines key soybean market watch points as US harvest approaches and Brazil prepares for planting. Drought in the northwest grain belt and potential La Niña impacts on Brazil are highlighted.
Drought risk in the US and possible La Niña dryness in Brazil could tighten soybean and meal supplies later in the year, supporting prices for feed buyers.
brownfieldagnews.comAug 31, 2021After 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 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.
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.
