◂ Event Timeline

Nov 20, 2020WEATHERGlobal

Soybeans at four-year high as demand and weather keep market bubbling

Chicago soybeans rose for a sixth straight session to a four-year high on robust Chinese demand and dry weather in South America. Corn also reached a one-year high on brisk exports and weather risks in other exporting countries.

The most-active soybean contract gained more than 12% in November.

WHY IT MATTERS

Dry conditions in Brazil and Argentina combined with China's herd rebuilding raise feed demand and tighten supply, supporting higher soybean meal and corn prices for feed buyers.

AFFECTSSOY▲CORN▲SBM▲

SOURCE
financialpost.comReutersNov 20, 2020

Price reaction & history

SOY▲bullishSO FAR1d +0.3%5d +1.2%20d +3.6%

After 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.

Oct 6, 2020Dry weather pushes CBOT wheat, soybeans to multi-year peaks | Financial Post+1.2%
Dec 30, 2022Soybeans set to gain for 4th year amid Argentina drought, China demand | Financial Post-0.5%
Jul 29, 2022Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up | Financial Post+0.4%
Aug 28, 2023Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder-1.8%
Mar 8, 2021Soybeans hit highest in almost 7 years on S.American crop worry | Financial Post-1.3%

CORN▲bullishSO FAR1d +0.1%5d +0.1%20d +1.2%

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.

Oct 6, 2020Dry weather pushes CBOT wheat, soybeans to multi-year peaks | Financial Post+2.6%
Dec 30, 2022Soybeans set to gain for 4th year amid Argentina drought, China demand | Financial Post-2.1%
Jul 29, 2022Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up | Financial Post+2.4%
Aug 28, 2023Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder-1.3%
Mar 8, 2021Soybeans hit highest in almost 7 years on S.American crop worry | Financial Post+2.7%

SBM▲bullishSO FAR1d +0.3%5d +1.2%20d +3.0%

After 453 past bullish weather events, SBM moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.

Jul 29, 2022Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up | Financial Post+4.2%
Aug 28, 2023Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder-1.5%
Mar 8, 2021Soybeans hit highest in almost 7 years on S.American crop worry | Financial Post-5.6%
Oct 22, 2018Soybean specialist gives tips for handling weather woes - High Plains Journal-1.9%
Jun 24, 2019Soybeans May Be Next Market to Surge as Wet Weather Drags On - TT-0.8%

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.

SOY · GP ▸

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CORN · GP ▸

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