
Conab's monthly agricultural monitoring bulletin shows second-crop corn and wheat developing favorably in Brazil's main regions. Harvest progress for July is ahead of previous years, and water shortages affected wheat in parts of Mato Grosso do Sul and central São Paulo.
Good second-crop corn yields and faster harvest add to exportable Brazilian supply, which pressures corn prices. Wheat losses in some areas are localized and have a limited effect.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.