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CBOT soybeans gained 63 cents in the week to around $10.75 a bushel, driven by a smaller-than-expected USDA production figure and Argentine excess moisture. Corn rose more modestly on South American weather concerns.
Excess rain cutting Argentine yields and acreage tightens soybean and meal supplies, raising feed ingredient costs for buyers.
agcanada.comAGCanadaJan 18, 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 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.
