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Soybeans and corn rose modestly on short covering and technical buying. China bought 256,000 tons of new-crop U.S. beans, and USDA reported 54% of soybeans rated good to excellent.
Forecasts showed mixed weather for key U.S. growing areas, with late-summer heat possible.
Crop condition and weather risk in the Corn Belt add some upside support, but favorable late-season development limits the rally. Buyers should watch the weekly crop ratings and any early freeze risk.
brownfieldagnews.comSep 16, 2019After 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 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
