◂ Event Timeline

Jan 13, 2023WEATHERBrazil

Wet Weather Slows Initial Soy Harvest in Brazil, 0.04% Harvested

Brazil's soybean harvest reached only 0.04% nationally, behind last year's 0.2%, as wet weather slowed the start in central Brazil. Dry conditions in Rio Grande do Sul are adding moisture stress, and the national soybean estimate was held unchanged at a neutral bias.

WHY IT MATTERS

Conflicting weather signals leave the Brazilian soybean production outlook uncertain, so price direction is unclear for now.

AFFECTSSoybeans◆

SOURCE
ukragroconsult.comJan 13, 2023

Price reaction & history

Soybeans◆neutralSO FAR1d +0.6%5d -1.5%20d +0.8%

After 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.

Jan 19, 2023Brazil Soybeans 0.6% Harvested, Wet Weather Slows Early Harvest-1.4%
Jan 26, 2018Daily rains slow Brazil’s early bean harvest-0.7%
Apr 25, 2017First-crop harvest nearly complete in Brazil, progressing in Argentina thanks to dry weather-0.2%
Feb 25, 2020Dryness worsens in the South as Brazil’s soy harvest reaches 31% – Ohio Ag Net | Ohio's Country Journal+1.9%
Apr 23, 2019Weather Favors Brazil Second-Crop Corn-3.4%

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.

Soybeans SOY · GP ▸

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