Loading…
Excess rain in central and northern Brazil is hampering harvest of second-crop soybeans and corn, while Argentina faces drought that is cutting soybean and corn yield potential. Only 17% of Brazil's soybeans and 25% of its corn had been harvested or sown, and Rio Grande do Sul's drought is also reducing soybean potential.
Yield losses in Argentina and delayed Brazilian planting together threaten South American supplies, which supports soybean and corn prices.
ukragroconsult.comFeb 17, 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.
