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Around 1.5 million soybean acres in Argentina were left unplanted after heavy rains followed dry weather, and the Buenos Aires Grains Exchange put the 2016-17 soy crop at 53.5 million tonnes, down 4.5 points. Rains have flooded fields across the country, with the worst hit in eastern Buenos Aires Province and Cordoba.
A smaller Argentine soybean crop tightens meal and oil supply from the world's top meal and oil exporter, supporting soybean product prices and feed costs.
farmprogress.comJames ThompsonFeb 8, 2017After 1,079 past bullish weather events, SOY 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, SBM moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 184 past bullish weather events, SBO moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
