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DTN reports that rainfall forecasts through September 8 show little significant precipitation for the driest parts of Argentina and Brazil. Soil moisture is short in many areas, and cold weather and frosts are delaying some producers.
Only limited rain is expected in parts of Buenos Aires and Rio Grande do Sul.
Dry conditions delaying planting in Argentina and southern Brazil raise concerns over the coming South American crop and support soybean and corn prices. Limited rain keeps the supply risk in focus for buyers.
dtnpf.comJohn BaranickAug 30, 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.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
