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World Grain reports that South American crops from Brazil and Argentina are still expected to be large despite erratic weather. Argentina suffered flooding and later dryness, and Brazil's crop should stay big unless northeast dryness spreads beyond mid-January.
Large expected soybean and corn crops from Brazil and Argentina add export supply during the northern hemisphere's tight months, which is bearish for soybean and corn prices and for soybean meal.
world-grain.comDrew LernerFeb 9, 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.
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.
