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Grain and soybean futures rebounded at the end of the week as traders exhausted reasons to sell. Dry weather in central Argentina, which affects about half its corn and soybeans, lifted soybeans, with January soybeans up 1.9%, December corn up 1.9%, and December wheat up 1.4%.
Wetter weather in Brazil eased concerns there.
Dry conditions in Argentina threaten South American soybean and corn output, supporting prices and soymeal costs for feed buyers. Brazil's rainfall offsets part of that risk.
foxbusiness.comBenjamin ParkinNov 17, 2017After 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.
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.
