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Drought in parts of Buenos Aires province left the main farm area mostly dry, with scant rain and high temperatures. Planting was 82% complete, and the Rosario exchange expects a 54.5 million ton 2017/18 soybean harvest.
Some drought damage is expected, mainly in the southwest of the province.
Dry conditions in Argentina's key soy area raise concerns about a smaller crop and tighter export supplies of soybeans and meal, which supports prices.
en.mercopress.comJan 3, 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.
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.
