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Brazil's Mato Grosso soybean harvest was about 2% complete as of late January, roughly 10 points behind the five-year average. Argentine soybean ratings were weak at 23% good to excellent, while recent rain has relieved most Argentine growing areas.
Slow harvest progress and weak Argentine crop ratings keep South American soybean and corn supply uncertain, which gives modest support to prices.
mckeany-flavell.comPeter ChurchJan 27, 2021After 1,079 past bullish weather events, SOY 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.
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.
