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Safrinha corn harvest in Brazil was only 5% complete versus 21% a year earlier, slowed by late-season rain and high grain moisture. Analyst Michael Cordonnier forecast a record 130 million tons.
Few farmers have on-farm storage or drying facilities.
Delayed harvest keeps Brazilian corn supplies later in the year, but a record crop expectation remains bearish for world corn prices over time.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), 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.