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A Soybean & Corn Advisor analysis says Brazil's 2022/23 soybean crop will almost certainly be larger than last year, with an estimate of 151.0 million tons, up 24 million. South American corn output is less assured, as the forecast La Nina dryness has not yet materialized in Brazil.
A record Brazilian soybean crop adds supply to export markets and weighs on soybean meal prices, while uncertainty in corn supports price risk for feed buyers.
ukragroconsult.comOct 28, 2022After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% 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.
