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Brazil's Matopiba region, spanning four northern states, is contributing to a record soybean crop this year. Good weather has aided a recovery in yields after several drought-hit seasons.
The region produced 12.17 million tonnes of soy last season when a dry spell caused heavy losses.
A larger Brazilian soybean crop adds to export supply, which is bearish for soybean and soymeal prices during the South American harvest and export period.
reuters.comRoberto SamoraMar 22, 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 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.
