Loading…
Argentina received heavy rain over the weekend after a hot, dry week, and crop moisture is now adequate or surplus, pointing to a good crop. Central Brazil's rainy season is normal and favorable for safrinha corn, with planting well ahead of normal and no sign of an early end through early March.
Favorable South American weather supports larger soybean and corn supplies, which tends to weigh on soybean meal and corn prices for feed buyers.
dtnpf.comMike PalmerinoFeb 26, 2019After 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 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.
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.
