
An Embrapa study of three decades of data in Goiás and the Federal District found El Niño years produced more yield declines than expected, while La Niña years were linked to more frequent gains. The researchers propose adjusting Brazil's fixed planting-window guidance annually using improved ENSO forecasts.
The findings improve understanding of ENSO-driven yield risk for Brazilian beans, corn and soybeans in the Cerrado, which matters for expectations of the next crop.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 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.
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.