Loading…
Dry weather in Rio Grande do Sul has slowed soybean planting, which was about 80% complete. Farmers in the Sao Borja area are waiting for moisture before planting the rest.
Forecast rain on December 27 and 28 could lift yields to 47-48 sacks per hectare, but without it yields could fall toward last year's very poor levels.
Delayed planting and possible yield losses in a state that normally contributes about 15% of Brazil's soybeans add some upside price risk. The effect is limited because the rest of Brazil's crop is progressing well.
ukragroconsult.comDec 26, 2022After 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 55 past neutral weather events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% 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.
