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DTN meteorologist Mike Palmerino forecasts a drier spell for central Argentina over the next two weeks, depleting soil moisture and stressing pollinating and filling corn and soybeans. Favorable weather is expected for Brazil's soybean filling, though scattered storms may disrupt early harvest in central Brazil, and the Midwest is drying out after saturated soils.
Dryness in Argentina during February pod-fill could cut soybean and corn yields, supporting soy meal and corn prices; Brazil's favorable outlook is bearish by offset.
dtnpf.comMike PalmerinoJan 28, 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 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
