Soybeans question pricing given increased Brazil concerns. November 13, 2023
Brazil is in the moderate risk-on category right now. The main three Center-West provinces have seen normal/below-normal rains ahead of, and during, early soybean planting. High temperatures this past weekend, upper 90's to 110, added risk. The general moisture forecast ahead shows no change. There is a light, valid, production hit to expect from weather to this point. The trade is lightly pricing additional premium based on the potential for no improvement in weather in the months ahead when reproduction hits.
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