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Brazil is facing one of its worst droughts in nearly 40 years as first-crop corn and soybean planting approaches. Second-crop corn harvest is still being completed in Mato Grosso, which accounts for a large share of Brazilian corn and soybean output.
Delays in that harvest could postpone soybean planting in the Central-West.
Drought and planting delays threaten Brazilian corn and soybean output and export capacity, which tightens global supply and supports prices.
bluelinefutures.comSep 19, 2024After 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 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.
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.
