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The IRI seasonal forecast shows near-normal rainfall for most of Brazil and above-normal precipitation for southern Brazil and Argentina over the coming months. Little drought is indicated for the main crop areas, and the pattern is consistent with developing El Nino conditions.
Favorable rainfall outlooks for South American soybean and corn areas reduce supply-risk premiums, which is mildly bearish for soybeans and corn; El Nino signals add uncertainty for later seasons.
dtnpf.comBryce AndersonOct 16, 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 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.
