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India's monsoon rainfall was 1% above normal through early August, but distribution was uneven, with some areas flooded and others in drought. Farmers in Maharashtra reported wilting soybean crops during a critical growth phase.
Uneven rains could cut Indian food grain and feed ingredient output, potentially reducing rice and meal exports and supporting world prices for those products.
agribusinessglobal.comMatt HopkinsAug 2, 2017After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
