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Conab reports that regular rains in November favored Brazil's first-crop development in the Central, North and Northeast regions. Dryness in the South allowed 80% of wheat area to be harvested, mainly in Rio Grande do Sul.
Favorable planting weather supports expectations for a large Brazilian soybean and corn crop, which tends to weigh on export prices.
revistacultivar.comNov 22, 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.
