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Economists estimate the ongoing Pampa drought could cut Argentina's GDP growth by 0.2 to one percentage point. Rosario climatologists see no rain until late March, with maize possibly 10 million tonnes lower and soy down about 5 million tonnes.
Lower Argentine maize and soy output reduces export availability from a top exporter, supporting soymeal and corn prices, though rising soy prices only partly offset lower volumes.
batimes.com.arPatricia ValliFeb 26, 2018After 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 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
