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Dry weather has persisted in parts of central Brazil, with some Mato Grosso municipalities going 15 to 25 days without meaningful rain. Temperatures have risen into the upper 90s °F after a cold early November.
The Aprosoja-MT president says soybean development is suboptimal and yields could fall below average in dry areas.
Yield losses in Mato Grosso, Brazil's largest soybean state, would tighten export supplies and support soybean and corn prices. Rain forecasts for the coming week will determine how much damage occurs.
ukragroconsult.comNov 25, 2022After 1,079 past bullish weather events, SOY 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.
