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Brazilian crop production continues to look very large, according to Soybean and Corn Advisor President Michael Cordonnier. Much of the soybean crop was planted within a two-week window, so harvest timing is concentrated and vulnerable to wet February weather that could delay harvest and safrinha corn planting.
A large, concentrated Brazilian harvest keeps export supplies ample and is bearish for soybeans. Wet weather that delays harvest could partly offset that pressure by disrupting logistics and corn planting.
rrfn.comDon WickDec 19, 2024After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
