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A lack of consistent rainfall from November 20 to 26 has added stress to Brazil's corn and soybean areas during a critical period, according to a Successful Farming report. Rainfall deficits will persist across a large part of Brazil, while southern Brazil and Argentina may see some improvement.
Ongoing moisture deficits during the critical growing window raise yield risk for Brazilian corn and soybeans, supporting feed grain and meal prices.
grainjournal.comNov 30, 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
