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Argentina's soybean planting, at 72% of the estimated area, is the slowest on record according to a local broker. Nearly 12.8 million acres remain unplanted, with 40% in drought-hit northern regions.
Corn planting is also historically delayed, with only 6.1% of the projected area sown.
Late planting and dry northern fields raise the risk of lower yields for Argentine soybeans and corn, which tightens export supplies and supports prices.
agriculture.comJan 4, 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 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.
