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Brazil's first-crop corn planting reached 86%, ahead of the five-year average and last year. Brazil soybean planting reached 78%, 11 points above average.
Rain is also supporting early crops in Argentina.
Fast planting and good moisture lower weather risk premium and point to larger South American supplies, which is bearish for soy and corn.
iowaagribusinessradionetwork.comRiley SmithNov 23, 2021After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 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.
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.
