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Morning Ag Clips reports Mato Grosso soybean harvest delayed by recent rains, at about 16% complete versus an expected 25% pace. Safrinha corn planting is also behind schedule at about 10% planted, with the ideal planting window closing in mid-late February.
Late safrinha planting raises the risk of yield loss in Brazil's main corn crop, which is mildly supportive for corn prices, though favorable weather partly offsets it.
morningagclips.comAubreyFeb 2, 2017After 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 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), 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.
