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Early-season drought in southern Brazil, including Mato Grosso do Sul, Parana and Rio Grande do Sul, cut soybean output, and USDA estimates the loss at 20-25 million metric tons. Low river levels on the Parana River also slowed barge traffic.
A roughly 15% drop in Brazilian soybean supply and barge constraints tighten soybean meal and soybean supply, which supports prices.
fieldadvisor.orgEric SnodgrassMar 23, 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.
Not enough comparable past events yet for a historical read.
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.
