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Nutrien meteorologist Eric Snodgrass said La Niña could delay Brazil's first-crop soybean planting by keeping September to early November drier. He said southern Brazil and parts of Argentina could see drought-like conditions that cut yields, though record acreage expansion could still produce a large crop.
Drier weather in southern Brazil and Argentina could reduce soybean and meal supplies, supporting soybean meal prices, though expected acreage gains limit the upside.
brownfieldagnews.comAug 24, 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.
