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Wet weather in central Brazil continued to slow the 2020/21 soybean harvest, which was 15% complete versus 31% a year earlier. Mato Grosso reached 34.5% harvested against 74% last year, and Parana was at 8%.
Slow harvest progress delays soybean shipments and can push safrinha corn planting late, supporting soybean and corn prices in the near term.
ukragroconsult.comFeb 26, 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 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.
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.
