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DTN meteorologist Bryce Anderson says key Brazilian soybean regions, including Mato Grosso and Goias, are very dry and hot ahead of planting. Temperatures topped 100F in Mato Grosso during the first ten days of September.
A dry start resembles 2017, when delayed planting cut safrinha corn yields and lifted corn prices in spring 2018. Traders are watching for a similar supply risk, though no crop loss has occurred yet.
brownfieldagnews.comSep 14, 2019After 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 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.
