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Brazil's soybean belt is experiencing hot, dry conditions, with temperatures forecast up to 15 F above normal while crops fill. Rio Grande do Sul, northeast Argentina and Paraguay are also seeing rising crop stress and some expected losses.
Early soybean maturity and harvest are running ahead of normal in central Brazil.
A significant South American drought threatens soybean yields and later safrinha corn, tightening supplies for meal and feed buyers and supporting soybean and corn prices.
dtnpf.comMike PalmerinoJan 29, 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.
After 453 past bullish weather events, Soybean Meal 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.
