◂ Event Timeline

Dec 26, 2019WEATHERBrazil

Brazil Corn and Soybeans Developing Nicely

INTL consultant Kory Melby reports Brazil's soybean fields look strong despite planting running two to three weeks late. Replanted fields ran short of time for second-crop corn, and spot old-crop corn prices in Brazil are very high.

WHY IT MATTERS

High Brazilian spot corn prices and the late-planting squeeze on safrinha acreage point to tighter corn supply and firmer feed prices into 2020, while the good soybean crop limits upside for soy.

AFFECTSCORN▲SOY◆

SOURCE
rrfn.comCarah HartDec 26, 2019

Price reaction & history

CORN▲bullishSO FAR1d +0.2%5d +0.6%20d +1.6%

After 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.

May 9, 2024El Nino and La Nina | Red River Farm Network+2.7%
Dec 16, 2021Cordonnier: A Split Decision | Red River Farm Network-2.7%
May 31, 2019The Start of a Corn Market Rally | Red River Farm Network-2.5%
Jul 31, 2022It’s a Late Crop | Red River Farm Network+3.1%
Jun 19, 2020Grain Traders Monitoring Rainfall Across Corn Belt | Red River Farm Network-2.4%

SOY◆neutralSO FAR1d +0.1%5d +0.8%20d -3.7%

After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.

Sep 27, 2018Spotty Corn and Soybean Yields | Red River Farm Network+1.4%
Apr 12, 2026Brazil Soybean Harvest Nears Completion | Red River Farm Network-0.7%
Jan 12, 2022Drought Took the Top End Off Corn and Soybean Yields | Red River Farm Network+1.1%
Sep 4, 2018RRFN Announces Final Crop Tour Results | Red River Farm Network+0.1%
Oct 5, 2022Why are the Corn and Soybean Crops Drying So Slowly? - farmdoc-0.5%

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.

CORN · GP ▸

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SOY · GP ▸

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