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Conab's December Agricultural Monitoring Bulletin reports good first-half December rainfall across Brazil's main grain states, supporting sowing and crop development. Vegetation indices in Mato Grosso, Mato Grosso do Sul, Goiás and Paraná exceed previous cycles, while the semi-arid Northeast and parts of Matopiba had scarce rain.
Favorable Brazilian crop conditions point to large soybean and corn supplies, which is bearish for global prices. Dryness in the Northeast and Matopiba is a localized risk to soybean and first-crop corn output.
revistacultivar.comDec 23, 2024After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
