# Brazil farmer bankruptcy filings worry global grain traders | Reuters

> El Nino has caused a severe drought in central Brazil's Mato Grosso, the country's largest farm state, reducing soybean yields and production potential. Excessive rains in the South have also hurt summer corn prospects in Rio Grande do Sul.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/13589-brazil-farmer-bankruptcy-filings-worry-global-grain-traders-reuters
- 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

Weather-driven losses in Brazil's main soybean and corn states reduce export supply, supporting soybean, corn and meal prices in global markets.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-10-19 | [El Nino worries Brazil soy farmers as planting progresses, grain lobby says \| Reuters](https://feedsoft.ai/events/13617-el-nino-worries-brazil-soy-farmers-as-planting-progresses-grain-lobby-says.md) | -1.7% | +5.6% |
| SOY | 2017-09-28 | [Brazil traders, farmers nervous over persistent lack of rainfall \| World-grain.com \| September 28, 2017 14:29 \| World Grain](https://feedsoft.ai/events/68796-brazil-traders-farmers-nervous-over-persistent-lack-of-rainfall-world-grain-com.md) | -0.8% | +1.0% |
| SOY | 2021-09-25 | [Grain Traders Keep an Eye on La Nina’s Impact on Global Production \| Red River Farm Network](https://feedsoft.ai/events/44993-grain-traders-keep-an-eye-on-la-nina-s-impact-on-global-production-red-river.md) | -3.0% | -5.0% |
| SOY | 2020-06-19 | [Grain Traders Monitoring Rainfall Across Corn Belt \| Red River Farm Network](https://feedsoft.ai/events/52460-grain-traders-monitoring-rainfall-across-corn-belt-red-river-farm-network.md) | -0.4% | +2.9% |
| SOY | 2021-09-28 | [BRAZIL CORN WATCH: Rains to favor planting in south, dryness concern in central region \| S&P Global](https://feedsoft.ai/events/44913-brazil-corn-watch-rains-to-favor-planting-in-south-dryness-concern-in-central.md) | -4.0% | -3.9% |
| CORN | 2023-10-19 | [El Nino worries Brazil soy farmers as planting progresses, grain lobby says \| Reuters](https://feedsoft.ai/events/13617-el-nino-worries-brazil-soy-farmers-as-planting-progresses-grain-lobby-says.md) | +1.0% | -2.6% |
| CORN | 2017-09-28 | [Brazil traders, farmers nervous over persistent lack of rainfall \| World-grain.com \| September 28, 2017 14:29 \| World Grain](https://feedsoft.ai/events/68796-brazil-traders-farmers-nervous-over-persistent-lack-of-rainfall-world-grain-com.md) | +2.6% | +2.3% |
| CORN | 2023-05-30 | [Dry Weather Worries Corn Farmers in Southern Brazil](https://feedsoft.ai/events/13646-dry-weather-worries-corn-farmers-in-southern-brazil.md) | -3.8% | +0.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/brazil-farmer-bankruptcy-filings-worry-global-grain-traders-2024-02-08/

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