Loading…
Argentine meteorologists said rains in the main grains belt during the prior week favored the 2016-17 soybean and corn crops, which are at a key development stage. After floods and drought caused losses in January, the weather has stabilized and expectations for an ample harvest remain intact.
Improving Argentine crop prospects add to South American supply, which pressures CBOT soybean and corn futures and weighs on feed grain and meal prices.
jamestownsun.comReuters MediaFeb 19, 2017After 363 past bearish weather events, SOY 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, SBM 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.
