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Brazil soybean planting reached 96% nationally, while southern Brazil planting slowed and some early Rio Grande do Sul soybeans may need replanting. Northern Brazil received heavy rain and flooding while the south stayed dry with high temperatures.
Dryness in southern Brazil threatens soybean yields and could require replanting, supporting soybean meal prices as the world's main protein supplier faces possible shortfalls.
ukragroconsult.comDec 15, 2021After 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.
