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USDA FAS projects Algeria's 2016/17 wheat imports at 8.0 million tons, down from 8.2 million, on higher domestic crops. Argentina flooding damaged 12.7 million decares of crops, including soybean and corn, and Canada's grain exports for the first 24 weeks were 2% lower year on year.
Argentine flood damage to soybeans and corn tightens South American supply and supports soybean and corn prices, while lower Algerian wheat imports soften wheat demand slightly.
grainsprices.comGate.BGJan 30, 2017After 1,079 past bullish weather events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
After 334 past bearish weather events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
