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Buxton ND | The heavy rain in northern/NE Mato Grosso Brazil were last week probably those rains were traded as last week news. The far NE MG does not rise Jack for soybeans. Do not wanna be a smart donkey tho Mr. Market does not trade last weeks news. I saw many pictures of flooding/water yet not one had ANY soybeans in the back ground. MANY had floating soybean stubble in them for it to floating its gotta be run thru the combine.....
Brazil weather is kinda guessimate/estimate game as they have NO doppler to watch systems move thru.
MG is 46% harvested, they start harvest in the north of work south. So ya that had heavy rains in some area's yeah there are soybeans left to harvest in this same area's tho those SAME rain were beneficial to the later beans farther south. Plus this whole harvest is earlier then normal in Brazil to start This early harvest, more early shipments is a very well documented fact.
Bottom line Brazil's beans crop is big/bigger or knock your socks off bigger. And their shipping infrastructure is getting BETTER to ship more beans faster even tho we a producers tend to hear very little about this.....
I'm firmly hedged beans and will stay hedged, if it should make new high in ZSX17 will probably hedge another. IF I get my price I do not care what time of the year it is. IMO Brazil growth is changing our seasonal pattern in beans. | |
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Corn and beans
