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Commodity Weather Group's David Streit says about two-thirds of Argentina's crop belt still lacks adequate moisture for corn and soybeans. Only limited showers are expected, too late to fully rescue the corn crop, though some soybeans still filling could benefit.
Persistent Argentine moisture stress during critical development stages cuts export supplies of soybeans, meal and corn, supporting soymeal and corn prices.
agriculture.comFeb 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.
