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Rainstorms across Argentina's soy belt have built soil moisture ahead of February flowering. USDA expects the harvest to reach 55.5 million tonnes, a sharp recovery from the drought-hit 37.8 million tonnes in 2017/18.
Some hail damage in Santa Fe is considered localized.
Good Argentine soybean prospects add export supply that would offset U.S. shortfalls if the trade war limits American sales to China, pressuring soybean and meal prices.
en.mercopress.comDec 19, 2018After 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.
