
An agronomist says the drought in Mato Grosso has not yet reached the length needed to call it crop failure. Stress is reducing yield potential, and delayed planting threatens the window for the safrinha second crop.
Drought is currently a main problem across Brazil's producing regions.
Yield losses and a narrower second-crop window could tighten Brazilian soybean and corn supplies, supporting feed grain and meal prices, although the expert sees losses as limited for now.
After 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.