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Julio Bravo of AgroBravo said Brazil's earliest soybean plantings, made in dry conditions, are producing lower yields. Later-planted fields, about 90% of farms, are expected to return to normal yields as rains became more frequent.
Farmers planted 3.4% more soybean acres, so the net production effect is likely neutral.
Expected offsetting yields and higher acreage suggest little net change to Brazilian soybean supply, limiting price impact on soybeans and meal.
farmprogress.comJulio BravoFeb 8, 2021After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
