Loading…
Higher temperatures have worsened Brazil's corn and soybean crop conditions, and Aprosoja expects yields about 10% below last year. Excessive rain has also delayed harvest in Argentina.
A roughly 10% yield drop in Brazil tightens export availability for corn and soybeans, supporting prices for both and their meal co-products.
agriculture.comLuis VieiraApr 8, 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, SOY 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, SBM 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.
