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Commentary says concerns about La Niña's effect on South American corn and soybean crops are growing. It also notes strong Chinese corn buying and record October soybean imports, with a selloff triggered by rumours of Chinese cargo cancellations.
Growing La Niña risk to Brazil and Argentina crops supports South American export prices, while firm Chinese demand underpins the market for US and Brazilian corn and soybeans.
czapp.comAlberto CarmonaNov 30, 2020After 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 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.
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.
