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Brazil's soybean harvest is running at its slowest pace in a decade, with 35% harvested versus a five-year average of 53%, due to heavy rain. Argentina's production estimates have been cut because of drought.
Rain-related quality problems are also affecting Brazilian soybeans.
Lower South American soybean output and quality, combined with Argentine drought, tightens export supplies and supports soybean, meal and corn prices.
graincentral.comGuest AuthorMar 16, 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.
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.
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.
