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Monsoonal rains finally arrived in Brazil's Center-West grain and oilseed region after several weeks of dryness that delayed first-crop planting. The article notes that delayed first-crop planting can push back planting of the second crop, which depends on seasonal rain.
A developing La Nina had disrupted rainfall.
Timely rain reduces the risk of delays to Brazil's soybean and safrinha corn harvests, which is mildly bearish for prices, though the second-crop timing still needs monitoring.
world-grain.comDrew LernerDec 15, 2017After 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.
