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AgRural said Brazilian farmers had planted 58% of the 2019/20 soybean area by November 7, a 12-point weekly gain that keeps planting slightly ahead of the five-year average but behind 2018. Mato Grosso reached 94% planted after favorable weather, while Paraná catch-up rains left part of its second corn crop facing late sowing.
Faster planting reduces weather risk to soybeans, which is mildly bearish, while late soybean planting in Paraná and Mato Grosso do Sul raises the risk of lower second-crop corn yields, which is supportive for corn.
ocj.comJoel PenhorwoodNov 12, 2019After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
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.
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.
