Loading…
DTN reports that more favorable weather is supporting Brazil's soybean harvest in central Brazil and filling soybeans in the south, plus favorable conditions for planting second-crop corn in west-central Brazil. A winter storm is forecast for the western Midwest, and Argentina's central belt is seeing a temporary heat spell.
Good Brazilian harvest and safrinha planting weather points to ample soybean and corn export supplies, which is mildly bearish for soybean meal and corn prices.
dtnpf.comElaine SheinFeb 23, 2017After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% 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.
