
Planting of soybeans in Brazil's Mato Grosso advanced quickly, with 25% of the state's area planted in one week from October 14 to 21. Farmers in Minas Gerais await rains needed to build subsoil moisture before planting.
Fast planting pace in Brazil points to an early, large soybean crop, which tends to pressure soybean and meal prices.
After 363 past bearish weather events, SOY 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, SBM moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% 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.