
Excess rainfall has damaged Paraná's crops, lowering the quality of winter grains such as wheat and barley and hindering planting of the summer crop. By October 26, 88% of the state's wheat area had been harvested, and soybean planting had reached 62% of the planned area.
Waterlogged soil has caused erosion, nutrient loss, root disease and some replanting.
Lower wheat and barley quality and slower soybean planting tighten feed grain supplies from southern Brazil, supporting soybean and feed grain prices. The risk is greater if El Niño brings above-average rain to the South in November as forecast.
After 1,079 past bullish weather events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.