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Soybeans closed $1.18 lower and July corn ended limit down at $6.33 on Thursday, with soymeal and soyoil also falling. Crude oil and the Dow also declined, and the US dollar rose.
Export demand was weak, though private exporters reported a 135,000-tonne soymeal sale to the Philippines.
Rain forecasts for drier Midwest areas and possible biofuel waivers weigh on soy complex values, while weak export demand limits support for feed meal prices.
ukragroconsult.comJun 17, 2021After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 49 past bearish weather events, Soybean Oil moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), 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.
