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El Niño-linked rains have hit farmers in northeastern Argentina's grain belt hard. Some farmers have stopped soybean harvesting while fields remain flooded, and evacuations have been reported.
Lost and delayed Argentine soybean output tightens global supply of soybeans, meal and oil, supporting prices.
apnews.comApr 21, 2016After 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 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
