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Morning Ag Clips reports that about 20% of Brazil's soybean crop has been harvested, running 3% ahead of last year nationally but uneven by state. Mato Grosso harvest is near halfway with yields favorable, while rains slowed progress in Mato Grosso do Sul and Parana lags well behind last year.
Strong yields and a national harvest pace slightly ahead of last year indicate growing Brazilian soybean export availability, a modestly bearish factor for soybeans and meal.
morningagclips.comAubreyFeb 16, 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.
