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Southern Brazil and Argentina had one of their driest mid-February periods in 30+ years. Rain returned briefly in late February, but forecasts show only a temporary reprieve.
Drier weather in Mato Grosso is helping farmers finish harvest and plant safrinha corn.
Drier weather speeds harvest and planting but does not reverse drought losses on earlier-planted crops. The mixed signal keeps supply risk balanced, so the price effect is limited.
ukragroconsult.comFeb 22, 2022After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, SOY 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.
