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Brazil's soybean harvest reached 0.6% by late last week, behind last year's 1.2%, as wet weather slowed harvesting in central Brazil. Dry conditions in Rio Grande do Sul are delaying planting there, and the national crop estimate was held at 151.0 million tons.
Brazil's soybean supply outlook is mixed, with wet conditions in the center and dryness in the south, so near-term price pressure from harvest selling is limited.
ukragroconsult.comJan 19, 2023After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
