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Grains were mostly lower on Feb. 2, 2021, with soybeans down 8 cents on lack of new US soybean sales to China.
Brazilian soybean harvest was only 1.9% complete as of Jan. 28, the slowest start in ten years, and AgRural forecast a record crop of 131.7 million tonnes.
A record Brazilian crop forecast weighs on soybean and meal prices, while a slow harvest start could delay export flows and shift some demand toward US supplies.
admis.comSteve FreedFeb 2, 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 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.
After 29 past bearish weather events, Palm Oil moved a median -0.3% over 5 sessions (38% higher; middle half -2.2% to +0.6%), and -1.4% 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.
