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Soybeans edged higher on commercial and technical buying, with no new Chinese sales reported that morning. Heavy rain in Argentina raised concerns about planting delays and possible replanting, and corn was fractionally lower.
Possible South American crop losses could increase U.S. export demand for soybeans, which supports prices, though the crop outlook is still developing.
brownfieldagnews.comDec 17, 2018After 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 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
