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Rabobank's annual outlook expects agricultural commodity prices, including soybeans, corn and wheat, to stay firm at least until mid-2021. La Nina is linked to drought risk in South America and wheat prices have reached their highest since 2014.
Forecast firm prices and South American drought risk from La Nina support feed grain and soymeal costs for buyers into 2021.
farmonline.com.auGregor HeardDec 3, 2020After 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.
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.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
