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February 2021 is on pace to be Argentina's second-driest February in more than three decades, with rainfall expected at about half of normal. Crop conditions remain stable, but the next substantial rain is nearly two weeks away.
Dry weather during yield-formation stages raises the risk of smaller Argentine soybean and corn crops, which could tighten export supplies and support prices if the dryness persists.
ukragroconsult.comFeb 23, 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 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 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.
