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NCDEX soybean settled up 0.72% at 3791 rupees on scarcity and crop damage from heavy rain in Madhya Pradesh. Brazil's soybean planting is behind last year, Parana is running dry, and US production is expected to fall 3-4%.
Lower Brazilian planting pace and a smaller expected US crop tighten global soybean supply, supporting meal and oil prices.
in.investing.comOct 31, 2019After 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 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.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
