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CLAL's video market review notes extreme drought in California, Canada and Brazil, heat in Scandinavia, and heavy rain and floods in Western Europe and China. It also says 2021/22 corn and soy production is expected to rise, while Chinese soybean stocks keep growing and Chinese trade is softening.
Weather stress in key exporters supports grain and oilseed prices, while softer Chinese soybean demand and rising stocks cap upside for feed buyers.
news.clal.itCLAL TeamJul 29, 2021After 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 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
