Brazil's first corn crop was 60% planted as of late October, slightly ahead of last year. Dry conditions have limited planting in São Paulo, northern Mato Grosso do Sul, Minas Gerais and Goiás.
Safrinha corn, about 80% of Brazil's corn output, may be planted late because of soybean delays, and some cotton growers may switch to soybeans.
Late safrinha planting raises the risk of lower yields in Brazil's main corn crop, which could support corn prices. Acreage shifts to soybeans could add to soybean supply later.
After 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 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.