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Dr. Michael Cordonnier says Brazil's soybean planting is nearly two-thirds complete and that a strengthening La Niña brings a drier-than-normal outlook for November through January. He expects Brazilian safrinha corn planting to slip into March, with farmers still motivated to plant with prices around $6.50 per bushel.
A dry outlook during pod filling and a late corn planting window raise yield risk for Brazil's crops, supporting corn and soybean prices and meal supply expectations.
brownfieldagnews.comadminNov 11, 2020After 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, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
