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Brazil's 2018/19 crop season has started, with farmers planting corn and soybeans. Early soybean planting is ahead of last year, with Parana at 9% planted after one week, its fastest start in five years, and Mato Grosso at 0.8%.
A fast, favorable planting pace in Brazil points to a larger upcoming soybean supply, which is mildly bearish for soybean meal and soybeans prices, especially while US supplies are tied up in China trade tensions.
morningagclips.comAubreySep 27, 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 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
