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Some Mato Grosso municipalities have gone 25 days without rain, and farmers in Diamantino and Campo Novo do Parecis are already estimating crop losses. Soil moisture is low after a prior drought, and high temperatures are stressing flowering soybeans.
IMEA expects Mato Grosso to produce about 42 million tonnes from roughly 12 million hectares.
Dry soils and heat during flowering could cut Mato Grosso's output below expectations, supporting soybean and meal prices. The losses would reduce export availability from a key origin.
revistacultivar.comNov 18, 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 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
