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DTN reports that central Brazil has remained unusually wet through November, delaying the early soybean harvest and raising disease concerns. Drier weather is expected in southern Brazil and central Argentina, favoring corn and soybean planting, and the Pacific sea-surface anomaly reached +1.8°C in November.
Wet weather and disease risk in Brazil could trim soybean and corn quality and slow export shipments, which supports South American meal and grain prices. Expectations of a classic El Niño pattern add to uncertainty over the Brazilian crop outlook.
dtnpf.comMike PalmerinoDec 4, 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.
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.
