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World Grain reports that dry weather in southern Brazil in early December, including Mato Grosso do Sul and Sao Paulo, is raising hopes among traders that a supply shock could lift depressed grain and oilseed prices. Forecaster World Weather, Inc. argues the dryness is not a lasting turn, with Argentina's outlook improving.
Traders are weighing whether the dryness will cut Brazilian soybean and corn output, which could firm prices after record US and Brazilian crops, though the forecaster sees limited lasting impact.
world-grain.comDrew LernerDec 26, 2018After 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.
