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Argentina's Agriculture Ministry cut its 2017 soybean forecast by 2.8 million tons to 56 million, while the Rosario exchange sees 52.5 million due to dry weather. USDA trimmed world soybean output slightly to 337.85 million tons, still a record, and Malaysian palm output is expected to recover.
A smaller Argentine crop tightens soybean and meal supplies while a recovering palm output caps vegetable oil prices, mixing supportive and bearish signals for feed protein.
greenea.comJan 13, 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 29 past bearish weather events, Palm Oil moved a median -0.3% over 5 sessions (38% higher; middle half -2.2% to +0.6%), and -1.4% 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.
