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Drought since September 21 in Argentina's central farm belt has prevented planting of late-season soybeans and corn and threatens crops already sown. Farmers in Buenos Aires province, including Juan Graneros, report no meaningful rain on their fields.
Chicago soybean and soymeal futures surged to their highest since July on concerns over Argentine supply.
Argentina ranks among the top exporters of soybeans and corn, so reduced output or delayed planting lifts Chicago futures and raises feed ingredient costs for buyers.
emtv.com.pgadmin Send an emailDec 7, 2017After 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.
After 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.
