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Chicago soybeans slid nearly 4.5% on Friday to their lowest in over a week after rains across South America boosted crop prospects. Wheat, corn and oats also fell sharply.
Ukrainian traders saw no reason to limit corn exports for the 2020/21 season, with a final decision due January 25.
Improved South American crop prospects raise expectations of higher world supplies, pushing grain prices lower. A possible Ukrainian corn export limit remains a source of upside risk for corn.
etftrends.comIan YoungJan 22, 2021After 363 past bearish weather events, SOY moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 357 past bearish weather events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
After 96 past weather events, OATS moved a median -0.2% over 5 sessions (49% higher; middle half -3.5% to +4.3%), and -0.3% 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.
