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Successful Farming reports Brazil's soybean planting at 89% complete, ahead of last year and the five-year average, with an estimated 119 million metric ton crop from Conab. Harvest could start in late December, the earliest ever, enabling a larger second corn crop.
A fast planting pace and large crop estimate point to ample Brazilian soybean supply, a bearish factor for soybean and meal prices; an earlier harvest also could expand safrinha corn output.
agriculture.comLuis VieiraDec 5, 2018After 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.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 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.
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.
