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US soybean futures rose to a one-week high, reaching $9.09 per bushel, on declining Brazilian yield prospects and optimism over US-China trade talks. Traders cited dry conditions in central Brazil, including Mato Grosso, Parana and Matopiba, where some areas may lose up to 40% of potential yield.
Expected Brazilian yield losses combined with trade optimism support US soybean prices and firm the cost of meal for feed buyers.
datamarnews.comJan 3, 2019After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
