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Farmers in Brazil's Central-West are hunting for rain spots to plant soybeans after a dry spell delayed the 2024/25 season. CONAB reported soybean planting at only 9.1% of the forecast area by October 13, ten points behind last year.
Planting in Goiás and Mato Grosso started late despite the sanitary void ending September 24.
Late soybean planting in Brazil's main producing states raises the risk of a shorter safrinha corn window and lower yields, supporting soybean and corn prices and meal demand.
valorinternational.globo.comGabriella Weiss, Izabel Gimenez, Marcos FantinOct 22, 2024After 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.
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.
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.
