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Soybeans fell sharply on December 13, 2021, on fund and technical selling after rain in Argentina and southern Brazil. AgRural reported 96% of Brazil's soybean crop planted, with early drought signs in the south.
Corn was modestly lower, and the USDA's next supply and demand report is due January 12.
Rain in Argentina and drier forecasts for Brazil's south are a mixed signal, but ample South American supply prospects weigh on soy and corn prices, while La Nina risks keep the outlook volatile.
brownfieldagnews.comDec 13, 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 118 past bearish weather events, SBM moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 49 past bearish weather events, SBO moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), and -0.3% 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.
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.
