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DTN meteorologist Mike Palmerino reports a favorable weather pattern for second-crop corn in central Brazil, with scattered showers and thunderstorms and early planting. Corn and soybeans in southern Brazil and central Argentina are moving through late fill and early harvest with favorable soil moisture.
Harvest disruptions from rain are possible but not a concern at this time.
Favorable Brazilian and Argentine weather supports larger South American supplies, which pressures corn and soybean prices. The effect is modest because the outlook is already widely expected.
dtnpf.comMike PalmerinoApr 2, 2019After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 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.
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.
