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Brazil's Agriculture Ministry approved 48 requests from Mato Grosso soy growers to plant before the September 15 fallow period ends. The Mato Grosso cotton producers' association requested the approvals, citing El Niño risks to rainfall.
Earlier soybean planting could allow an earlier harvest and reduce risk to following corn and cotton crops, though the move is controversial and raises disease risk, so the net effect on prices is modest.
brecorder.comReutersSep 2, 2023After 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
