# Soybean market turns on Brazil

> Rains have spread across most Brazilian growing regions, and soybean planting is expected to reach about 25% within days and catch up to its historical average by late November. Argentina corn planting is near 20%, lagging its usual pace due to leafhoppers and drought. Forecasts show above-average November rain for most of Brazil.

- Date: 2024-10-25 · published 2024-10-25T12:00:00.000Z
- Category: weather · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/13540-soybean-market-turns-on-brazil
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Improving Brazilian planting and rain outlooks cap soybean rallies, with production expectations limiting upside, which is bearish for soybeans and soy meal.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-12-02 | [Soybeans slide on predicted rains in Brazil - Markets - Business Recorder](https://feedsoft.ai/events/32740-soybeans-slide-on-predicted-rains-in-brazil-markets-business-recorder.md) | -1.6% | -3.8% |
| SOY | 2017-01-24 | [Brazil's Soybean Crop Seen as Amazing](https://feedsoft.ai/events/72859-brazil-s-soybean-crop-seen-as-amazing.md) | -3.3% | -3.0% |
| SOY | 2018-12-05 | [Brazil Heads Toward Early Soybean Harvest](https://feedsoft.ai/events/61423-brazil-heads-toward-early-soybean-harvest.md) | +0.9% | -0.2% |
| SOY | 2023-11-25 | [Soybeans fall as rain benefits top supplier Brazil - Markets - Business Recorder](https://feedsoft.ai/events/33226-soybeans-fall-as-rain-benefits-top-supplier-brazil-markets-business-recorder.md) | -0.4% | -2.3% |
| SOY | 2026-03-12 | [Brazil Crop, Midwest Weather Outlook for Soybeans](https://feedsoft.ai/events/13012-brazil-crop-midwest-weather-outlook-for-soybeans.md) | -3.2% | -2.9% |
| CORN | 2018-01-19 | [GRAIN MARKETS: Soybeans step higher on South American weather](https://feedsoft.ai/events/12099-grain-markets-soybeans-step-higher-on-south-american-weather.md) | +0.7% | +2.0% |
| CORN | 2017-10-30 | [U.S. grains: Soybeans retreat on Brazil rains, technical selling - AgCanada](https://feedsoft.ai/events/68486-u-s-grains-soybeans-retreat-on-brazil-rains-technical-selling-agcanada.md) | -0.3% | -5.5% |
| CORN | 2021-08-27 | [Potential Brazil corn and soybean production in 2021/22](https://feedsoft.ai/events/45432-potential-brazil-corn-and-soybean-production-in-2021-22.md) | -4.6% | -10.8% |

## Sources

- farmprogress.com: https://www.farmprogress.com/farm-business/soybean-market-turns-on-brazil

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.