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Argentina's upcoming corn and soybean crops are not expected to be among the best on record but have avoided the severe drought seen in 2018 after above-average January rainfall. USDA's Buenos Aires office projected corn at 47 million tonnes, though La Nina and a dry forecast remain risks.
Crops in good condition support adequate Argentine corn and soymeal export supplies, but a dry turn during yield formation could cut output and lift world feed prices.
brecorder.comReutersFeb 4, 2021After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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 55 past neutral weather events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% 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.
