Loading…
Optimism prevailed at ExpoAgro 2019 in Buenos Aires province, with a bumper harvest anticipated after last year's severe drought. Argentina's agricultural sector is the largest contributor to its GDP, and the event was seen as a gauge of farmer support for President Macri ahead of elections.
Expectations of a bumper Argentine crop signal greater export supply of soy products and corn later in the year, a bearish factor for world grain and meal prices.
batimes.com.arEllie ArdenMar 16, 2019After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
