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Argentine soybean farmers have delayed pricing about three quarters of the 12.2 million tons sold so far, versus 60% a year earlier. They are betting on a US-China trade breakthrough and expect the peso to keep depreciating.
Slower farmer selling holds back Argentine soybean and meal supply, which can support prices, while the peso's weakness shapes export pricing.
ajot.comBloombergApr 3, 2019After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
