
Above-average temperatures and uneven rainfall have limited soil-moisture recovery in Brazil’s MATOPIBA region at the start of the 2026/27 soybean season. NOAA data showed a 2.47°C Niño 3.4 temperature anomaly in October, and the agency expected strong to very strong El Niño conditions through January–March 2027.
If heat and irregular rainfall persist, soybean yields in a producing region could suffer, tightening supply expectations and supporting prices.
After 1,079 past bullish weather events, Soybeans 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.