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Torrential rains hit key Argentine soybean areas as planting closed, and an Argentine crop association estimates 10 to 15 percent of the crop is at risk. Central Argentina also saw flooding of over 800 dairy farms in Santa Fe, while southern Buenos Aires faces drought.
Crop losses and replanting problems in Argentina tighten export supplies of soybeans and meal, supporting soy product prices.
brownfieldagnews.comMeghan GrebnerJan 17, 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.
