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Speculators bought CBOT soybeans in the last two weeks of 2021, their largest buying streak in over a year, pushing futures to five-month highs. Dry weather in Argentina and southern Brazil drove the buying, while funds also raised their net long in corn.
Dry South American weather threatens soybean and corn supplies from the largest exporters, supporting prices for feed buyers. Fund buying adds momentum that can amplify the rally.
financialpost.comReutersJan 3, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Record speculative fund buying streak in CBOT soybeans on South American dryness pushed futures to five-month highs, adding sentiment and positioning-driven momentum that carries into meal.
Record fund buying streak in CBOT soybeans through late 2021 on dry Argentina/southern Brazil weather pushed futures to five-month highs, a sentiment and supply-risk driver consistent with a sharp soybean meal rally on 2022-01-03.
