
Mato Grosso is going through its second-driest start to the soybean season in 27 years, with rainfall from September 1 to October 27 at 33% below the historical average. Some 22 of 23 monitored municipalities recorded below-normal rain, and Aprosoja-MT says losses cannot yet be quantified.
Dry conditions in Brazil's main soybean state raise the risk of yield losses in early-planted fields, which supports soybean and soybean meal prices and tightens export supply expectations.
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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), 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.