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DTN's meteorologist forecasts hot, dry weather over the next seven to 10 days in Brazil, with temperatures in the mid-90s to low 100s°F stressing pod-filling soybeans in Parana, Mato Grosso and Bahia. Argentina is expected to receive favorable rains for developing corn and soybeans, and DTN says this could become one of the more significant Brazilian drought patterns in years.
Heat and dryness during Brazil's soybean pod-fill threaten yields and support soybean, meal and corn prices, while favorable Argentine rains partly offset the supply concern.
dtnpf.comMike PalmerinoJan 9, 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 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.
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.
