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Agrometeorologist Marco Antônio do Santos reports that Brazil's 2017/18 harvest is nearly over, with corn yields lower after the April-May drought. Soybean output is at a record and cotton is on track for a record, while the planned winter wheat area is smaller despite favorable climate.
Record Brazilian soybean supplies add to bearish pressure on soy meal and oil, while lower corn output supports corn prices. Smaller wheat plantings could support wheat later in the year.
revistacultivar.comJul 12, 2018After 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.
After 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.
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.
