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Brownfield reports Brazil's corn and soybean crops are progressing well, and Eric Snodgrass expects favorable South American weather to continue. He expects Brazil and Argentina to deliver near-trend yields, with La Niña having little effect on summer weather there.
Expectations of good South American yields add supply comfort and point to softer soybean and corn prices, with Brazilian supply competing for export demand.
brownfieldagnews.comNov 18, 2016After 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.
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.
