Loading…
Floods and drought in Argentina's agricultural heartland could cut 1.3 million hectares from the previously estimated 34.3 million hectare sowing area for the 2016-17 harvest. The harvest is not expected to match last season's record output.
A smaller Argentine soybean and corn area reduces South American export supply, supporting world soy complex and feed grain prices.
doi.orgJan 12, 2017After 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.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
