
Itaú BBA's June bulletin said May and early June rains supported second-crop corn and wheat development across much of Brazil. Excess rain in some regions delayed harvest and planting of new crops, especially in Paraná and Mato Grosso.
Central regions had lower rainfall and reduced soil moisture.
Harvest delays slow the flow of Brazilian corn to export markets, which modestly supports US corn export competitiveness and sustains near-term Brazilian corn prices.
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 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.