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Bloomberg reports that La Niña heat and dryness are affecting Brazilian coffee buds and delaying soybean planting. It notes coffee prices may rise as the weather threatens Brazil's next crop.
Dry Brazilian conditions that delay soy planting could tighten soybean and meal supply later in the season, although the main price impact described is in coffee.
bloomberg.comFabiana Batista, Tatiana FreitasSep 29, 2020After 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.
