La Niña looms over Brazil, raising fears of drought in the South

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.

• Oct 6, 2022Is La Nina Returning to Southern Brazil?+1.9%
• Feb 14, 2023Brazil drought threatening national output potential, southern farmers say+0.4%
• Dec 26, 2021Withering crops highlight La Niña fears for Brazil soy farmers - BusinessWorld Online-0.2%
• Feb 17, 2023Weather factors in South America: Drought in Argentina and excess rainfall in Brazil weigh on markets+0.2%
• Jan 10, 2023Drought in Southern Brazil while Excess Wetness in Central Brazil+2.4%

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.

• Feb 14, 2023Brazil drought threatening national output potential, southern farmers say-2.3%
• Dec 26, 2021Withering crops highlight La Niña fears for Brazil soy farmers - BusinessWorld Online+1.1%
• Jan 10, 2023Drought in Southern Brazil while Excess Wetness in Central Brazil+2.5%
• May 29, 2021Brazil on drought alert, faces worst dry spell in 91 years-0.8%
• Jan 12, 2022Brazil farmers struggle as drought batters southern soy crop-7.2%

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.

• Oct 6, 2022Is La Nina Returning to Southern Brazil?+0.8%
• Dec 26, 2021Withering crops highlight La Niña fears for Brazil soy farmers - BusinessWorld Online-1.3%
• Dec 19, 2022Drought hits Brazil corn in key southern state – StoneX+1.3%
• Feb 17, 2023Weather factors in South America: Drought in Argentina and excess rainfall in Brazil weigh on markets-1.6%
• Jan 10, 2023Drought in Southern Brazil while Excess Wetness in Central Brazil+1.9%