◂ Event Timeline

May 12, 2016WEATHERCanada

Soybean prices rally as P.E.I. farmers prepare to plant

Prince Edward Island farmers rushed to sign soybean contracts after flooding in Argentina reportedly destroyed 1.4 million hectares of soybeans. Soybean prices peaked near C$450 per tonne, up from C$360 in December.

WHY IT MATTERS

Argentine crop losses tighten global soybean supply and lift export-linked prices, so Canadian growers can lock in higher prices at harvest.

AFFECTSSOY▲

SOURCE
cbc.caBrian Higgins · CBC News · Posted: May 12, 2016 4:00 PM EDT | Last Updated: May 12, 2016May 12, 2016

Price reaction & history

SOY▲bullishSO FAR1d -0.5%5d +0.5%20d +9.9%

After 1,079 past bullish weather events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.

Aug 27, 2020Parched soybean fields fuel price rally+4.7%
May 7, 2021Iowa farmers wary as drought deepens even with corn, soybean prices up+0.4%
Nov 21, 2023Brazilian Farmers Still have 30% of Their Soybeans to Plant - AgWeb-1.5%
Nov 1, 2019Harvest Slogs Onward as Farmers Start to Prepare for 2020+0.9%
Feb 25, 2022Soybean Prices Rise as Drought in South America Reduces Harvest - farmdoc daily+1.1%

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.

SOY · GP ▸

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