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World Weather Inc. expects dry conditions to return to Brazil and persist until at least the second week of January. Soybean production will be somewhat lower, though not dramatically.
Late soybean planting may also keep second-crop corn from being planted on time.
Expected soybean and corn output shortfalls in Brazil would reduce South American export supplies. The risk supports prices, though the forecast is uncertain.
brownfieldagnews.comCarah HartDec 19, 2023After 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 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.
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.
