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The DTN long-range European ECMWF model shows wet season rains arriving in central Brazil later than previously forecast. Less than 30 mm is expected through Oct.
11, and most areas have had no meaningful rain for four to five months. Producers are waiting for at least 50 mm before planting first-crop soybeans.
A delayed wet season postpones Brazilian soybean planting and pushes harvest later, tightening near-term export availability and supporting soybean prices.
dtnpf.comJohn BaranickSep 27, 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 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.
