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Baking Business reports that Brazil's crop outlook is favorable, with well-timed rain and seasonable temperatures in most regions except drought in the northeast. The analyst expects a normal finish to the rainy season and a large South American crop.
Expectations of a large Brazilian soybean and corn crop with low odds of repeating last year's losses add supply and pressure futures and meal prices lower.
bakingbusiness.comDrew LernerJan 31, 2017After 363 past bearish weather events, SOY 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.
