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AgRural reports Brazil's soybean planting reached 71% as of mid-November, well above the five-year average of 57%. Mato Grosso reached 96% planted and favorable weather has supported rapid planting across the country.
Fast, favorable planting reduces weather risk to the Brazilian soybean crop, adding to expectations of ample supply and pressuring soybean and meal prices.
agriculture.comLuis VieiraNov 15, 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.
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.
