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Soybeans and soymeal rallied as heavy rain in Argentina's growing areas damaged seeded fields and delayed replanting. Soymeal rose more than 10% year to date to $345.4 a ton, and beans reached $10.63 a bushel.
Argentina is the world's largest soymeal exporter, so cuts to its crop forecasts tighten global meal supply and lift feed protein costs. Buyers should expect firmer soymeal prices while the crop estimate keeps falling.
thearabianpost.comThe Arabian Post NetworkJan 20, 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.
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.
