Loading…
Karen Braun says soybean bulls have been driven by excess rain in Argentina's Soybean Belt, with Chicago March soybeans reaching a six-month high after the rain news. She expects a shift to drier weather that could ease crop concerns and reduce the rally.
A forecast return to dry weather in Argentina would reduce crop loss fears and could pressure soybean and meal prices from recent highs.
manitobacooperator.caKaren BraunJan 31, 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 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.
