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Soybeans rose for a fourth straight session, nearly reaching a nine-month high, as soaring energy prices lifted soybean oil futures about 3%. Concern over a South American soybean shortfall from poor weather added support.
Energy-driven strength in soyoil and concerns over South American supply tightness point to firmer soybean and soymeal prices.
reuters.comKarl PlumeFeb 22, 2022After 72 past bullish geopolitics events, Soybeans moved a median +0.4% over 5 sessions (60% higher; middle half -1.0% to +2.5%), and -1.0% over 20.
After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
