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A CoBank analyst says dry conditions are developing in northern South America while the south is expected to turn very wet under a strong El Niño. Delays to planting and later harvesting are possible, extending into January to March.
The analyst says the strength of any rally will depend on how widespread the delays become and on export demand.
Expected planting and harvest delays in Brazil and Argentina could tighten 2027 corn and soybean supplies and lift prices. The outlook is conditional, so the effect is a possible rally rather than a confirmed one.
brownfieldagnews.comKellan HeavicanNov 3, 2026After 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 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.
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.
