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Chicago soybeans steadied after a two-week low as forecast rain in dry parts of Brazil eased crop worries, with the most-active contract up 0.8% at $11.61-3/4. Wheat fell on prospects of a bumper Australian crop, while corn edged up.
Expected Brazilian rain reduces the risk to the South American supply that importers depend on, weighing on soy and meal prices, while a large Australian wheat crop adds export supply.
financialpost.comReutersDec 3, 2020After 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 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 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.
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.
