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As of early November 2022, Brazil's soybeans were 46% planted, ahead of 40% average, according to Ag Rural. Rapid planting in Mato Grosso is allowing timely safrinha corn planting, though irregular rains caused poor germination and some replanting in parts of the country.
Weather is generally favorable for early crop development.
Fast planting and generally favorable conditions point to a normal Brazilian crop, which limits upside pressure on prices. Replanting in some areas is a minor concern.
ukragroconsult.comNov 3, 2022After 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.
