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Datagro said Brazil's soybean harvest had reached 9.1% of area through Feb. 12, less than half the 21.4% of a year earlier and below the 19.7% historical average.
Summer corn harvest advanced to 20.6% in Center-South states, but significant losses occurred in Rio Grande do Sul and Santa Catarina from a lack of rain.
A slow soybean harvest delays safrinha corn planting and may push it outside the ideal window, tightening export-oriented corn supply and supporting prices. Delayed soy exports also add near-term support to soybean and meal prices.
brecorder.comReutersFeb 18, 2021After 1,465 past bullish weather events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 55 past neutral weather events, SBM moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% 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.
