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Soil moisture across most of Brazil's primary crop areas has declined steadily over six weeks, with Mato Grosso the main exception. Forecasts diverge, with the European model calling for much drier conditions and temperatures 5 to 10 degrees Fahrenheit above normal in the safrinha corn areas.
Dryness and heat during pollination and filling threaten the second-crop corn yield, supporting corn and meal prices as Brazilian export supplies shrink.
dtnpf.comApr 29, 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 453 past bullish weather events, SBM 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.
