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DTN reports that southern Brazil, including Rio Grande do Sul, Parana and Sao Paulo, had a notably dry spell in the week of Dec. 7-14, with little or no rain and daytime highs of 93 to 98 F.
Forecasts show only limited rain, and forecasters say the crop size projection needs close watching.
Dryness during pod-setting threatens Brazil's soybean yields, which could tighten export supplies and support soybean and meal prices.
dtnpf.comBryce AndersonDec 14, 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 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.
